Companies must remit income tax in four statutory installments throughout the financial year. Missing the 15th-of-the-month cutoffs triggers mandatory compound interest of 1% per month under Sections 234B and 234C.
Sarah Jenkins
Tech Procurement & FinOps Advisor
Under Section 208 and 211 of the Income Tax Act, every corporate entity whose estimated annual tax liability exceeds ₹10,000 must pay tax in advance rather than waiting for annual return filing. The statutory schedule mandates cumulative progress: 15% by June 15, 45% by September 15, 75% by December 15, and the full 100% balance by March 15.
Missing an advance tax due date by even 24 hours triggers non-negotiable statutory interest. Section 234C levies 1% interest per month for three full months on any quarterly installment shortfall. Furthermore, if aggregate payments fall below 90% of assessed tax by March 31, Section 234B levies an additional 1% per month until the final assessment date.
Because the September 15 and March 15 installments require substantial cash outflows, treasury managers must coordinate vendor payments and customer collection cycles well in advance to prevent liquidity crunches or relying on high-cost overdraft lines.
Logging corporate tax quarterly due dates, TDS deposit schedules, and annual transfer pricing filing dates in RenewOS ensures corporate finance teams maintain flawless statutory compliance year-round.
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