New Delhi, Sept. 11 -- Taxpayers who missed the first advance tax instalment deadline on June 15, 2026, still have options to limit the financial impact. While certain individuals are required to pay their tax liability in scheduled instalments during the specified financial year, missing the due date does not close the window entirely.

Though, not paying advance tax by the stipulated due date does not attract additional penalty, any delay in payment can attract interest under Sections 234B and 234C of the Income-tax Act. Therefore, taxpayers are advised to clear their dues on time to avoid additional interest and other complications.

Advance tax requires taxpayers to pay tax on income during the financial year in which it is earned, ra...