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Missed June Advance Tax Instalment? September 15 Deadline Explained
Advance tax means paying income tax during the year instead of waiting until the end.
Some taxpayers must pay it in several instalments.
If someone missed the June 15 payment, they can still pay it later.
They may also have to pay interest on the delayed amount.
The next payment is still due on September 15.
For example, someone expecting to owe ₹1 lakh would have had to pay ₹15,000 by June 15 and ₹45,000 by September 15.
A shortfall can attract 1% monthly interest under Section 234C.
If less than 90% of the total tax is paid by March, further interest may apply under Section 234B.
Taxpayers who missed the June 15, 2026, advance tax deadline can still pay the instalment with applicable interest.
Advance tax is mandatory when net tax liability after TDS, TCS and tax credits is ₹10,000 or more.
The September 15 instalment remains payable even if the June instalment was missed.
Section 234C may impose interest of 1% per month on the shortfall, with any part of a month treated as a full month.
Section 234B applies if at least 90% of total tax liability is not paid by March, with interest starting from April 1.
- Who
- Individuals and entities whose net tax liability, after TDS, TCS and tax credits, is ₹10,000 or more.
- What
- Taxpayers who missed the June 15, 2026, advance tax instalment can pay it later, but may owe interest.
- Where
- Payments are made toward the taxpayer’s advance tax liability under the Income-tax Act.
- When
- The missed instalment was due on June 15, 2026; the next instalment is due on September 15, 2026.
- Why
- Advance tax is paid during the financial year, and timely payment helps taxpayers avoid interest on delayed or unpaid amounts.
Key facts
- Eligibility threshold
- Advance tax is mandatory when net tax liability after TDS, TCS and tax credits is ₹10,000 or more.
- Missed June instalment
- Taxpayers can still pay the June 15 instalment along with applicable interest.
- September instalment
- The September 15 instalment remains payable even if the June instalment was missed.
- Illustrative liability
- For an estimated ₹1 lakh liability, the June instalment is ₹15,000 and the September instalment is ₹45,000.
- Section 234C interest
- Interest is charged at 1% per month on the shortfall; any fraction of a month counts as a full month.
- Section 234B trigger
- Interest applies if at least 90% of total tax liability is not paid by March.
- Section 234B period
- Interest starts from April 1 of the following year and continues until payment.
Quotes
Niresh Maheshwari
Director of Wealth Wisdom India Pvt Ltd
“Most taxpayers cannot have the interest under these provisions waived pursuant to guidelines, and consequently, the amount of interest will be automatically calculated during your income tax return preparation.”
livemint.com
“Even a delay of a few days attracts 1% interest for one month on the unpaid amount, because any fraction of a month is treated as a full month for tax computation.”
livemint.com
Sources
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