Advance tax September 15 deadline: Who pays, who is exempt and what penalty applies – explained

Indian taxpayers, brace yourselves! The second advance tax installment for FY 2025-26 is due September 15th. If your tax liability exceeds Rs 10,000, pay up to avoid a 1% monthly interest penalty. Salaried individuals with additional income beyond TDS deductions, and others, should take note. Senior citizens are exempt under specific conditions.