New Delhi, March 12 -- The deadline for paying the fourth and final instalment of advance tax for the financial year 2025-26 is around the corner, with taxpayers required to clear their outstanding liability by 15 March 2026.

Advance tax refers to an income tax system in India where taxpayers pay estimated tax in instalments during the financial year rather than a lump sum at the time of filing the income tax return.

Taxpayers are required to calculate the estimated total income at the start of the financial year, thereby providing an estimate of the tax liability. The advance tax payment is made through a certain percentage of the four instalments.

It is mandatory for individuals with a net tax liability of Rs.10,000 or more in a fina...