Taxpayers can pay advance tax payments for specific incomes in FY 2025-26 after the income has happened. Capital gains, lottery winnings, and certain business income are eligible. Senior citizens without business income are exempt. Advance tax is mandatory if net tax liability exceeds Rs 10,000 after TDS. Payment deadlines are June 15, September 15, December 15, and March 15.
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Thursday, December 4, 2025
ITR tax refund stuck? These 7 common errors could be the reason and how you can fix them
Tax refund delays can often stem from mistakes made by taxpayers. Make sure to double-check your Income Tax Return (ITR) within a month. If you receive any notifications regarding defective returns or proposed changes, respond quickly. Don’t forget to confirm that your bank account is set up for refund deposits. Clear any outstanding demands prior to the refund process.
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from Tax-Wealth-Economic Times https://ift.tt/ltFeNsz
Advance tax deadline: Who needs to pay advance tax and what is penalty for missing due date?
Advance tax payments are crucial for individuals with income beyond salary. The third instalment for Assessment Year 2026-27 is due by December 15, 2025. Missing deadlines incurs penalties. Taxpayers can pay online or offline. Understanding these rules ensures timely compliance and avoids interest charges.
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from Tax-Wealth-Economic Times https://ift.tt/5o6lniq
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