E-Filing: File Advance Tax Yourself

Tax filing often brings ‘worry lines’ taxpayers’ foreheads. The common belief was, ‘filing income tax all by yourself isn’t something you should attempt as there are several laws that may confuse you or you can miss out on and end up wrongly filing the tax.’ However, such myths are being busted as the government has fairly eased up the process of filing self-assessment tax and advance tax. Now, you don’t have to fill multiple forms and attach hard copies of various documents as you can file your tax right from your office desk or from the comfort of your home.

So, before we get into the whole process of e-filing advance tax, let’s just understand what advance tax is and how it is calculated.

What is Advance Tax?

This is a ‘pay-as-you-earn’ form of tax that taxpayers willingly pay before the end of the current financial year. Taxpayers can choose to pay advance tax in the form of monthly instalments or in a lump sum amount. The criterion for filing advance tax clarifies that you have to have a tax liability of more than Rs. 10,000 to be able to file the tax. However, there is no regulation under the Income Tax Act, 1961 that compels taxpayers to file advance tax.

On the other hand, businesses that have opted for Presumptive Taxation Scheme under section 44AD have to pay their advance tax in one instalment. The law is also the same for the employed or self-employed professionals who also come under the Presumptive Taxation Scheme under section 44AD of the Income Tax Act, 1961.

E-Filing Advance Tax – How It’s Done!

  • Visit the e-payment facility on the Income Tax Department portal.
  • Select ITNS 280 form (for individuals) for filing advance tax
  • Choose the code – 100 (Correct Code of Advance Tax)
  • Fill out your details such as name, address, email, phone number, PAN, etc.
  • Proceed and you’ll see the payment page.
  • Make payment and you’ll get a receipt – Challan 280.
  • Take a screenshot of the receipt as you’ll have to attach it at the time of filing ITR.

Advance Tax Filing

Advance Tax Calculation

 In any case, if you’ve filed wrong advance tax or made a payment more than it was required, you can fill and submit Form 30 and reclaim the excess amount. However, the application for refund has to be in relation to the tax filed before 31st July.



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