December 15 advance tax deadline: What you must pay today and cost of delay
“The 15 December advance-tax deadline is a crucial checkpoint, as by this date taxpayers must have paid at least 75 percent of their total estimated tax liability for the financial year. Missing this deadline attracts mandatory interest under Section 234C of the Income-tax Act, even if the balance tax is paid later while filing the return,” said Avnish Arora, Executive Director, Direct tax.