Banks would remain open today (Sunday) for facilitating the payment of Advance Tax for the financial year 2013-14.
All designated branches of authorized banks have been asked to function on 14th September and on 15th September, 2013 (Saturday & Sunday) to accept advance tax payments. If any tax payer fails to pay the advance tax on 14th/15th September, 2013, then he/she can make the payment even on 16th September, 2013.
Payment of Quarterly Advance Tax on or before 15th September, 2013 by the tax payers is a statutory requirement. All such tax payers who are liable to pay advance tax must make payments in the designated branches of the banks authorized to accept tax payments.
For Individuals with Salary as the sole source of income, Advance Tax would be taken care of by the TDS deducted by the employer at the time of payment of salaries as reflected in Form 16 and thus there would hardly be any Advance Tax payable. For all assesses earning income from any source other than salary, Advance Tax is payable in instalments as explained below.
Payment of Advance Tax
Advance Tax is liable to be paid as per the following schedule
In case of Assessees other than Companies
| Due Date of Installment | Amount Payable |
| On or before 15th Sep | Not less than 30% of the Advance Tax Liability |
| On or before 15th Dec | Not less than 60% of the Advance Tax Liability as reduced by the amount,if any, paid in earlier installment |
| On or before 15th Mar | 100% of the Advance Tax Liability as reduced by the amount, if any, paid in earlier installments |
Table sourced from here