New Delhi, March 13 -- The deadline for paying the fourth and final instalment of advance tax for the financial year 2025-26 is 15 March 2026. Taxpayers must clear their advance tax dues by this date to avoid future penalties.

Advance tax is a "pay-as-you-earn" system in India, where taxpayers pay estimated tax in instalments during the financial year, instead of a lump sum at the time of filing their income tax return.

During a financial year, taxpayers are required to pay their total income tax in four instalments, at fixed percentages and dates, as set by the Income Tax (IT) Department.

However, taxpayers must estimate their total income at the beginning of the financial year and pay accordingly. Failure to pay on time results in pe...