Advance tax is paid online through the e-Pay Tax service on the income tax e-filing portal. The whole thing takes a few minutes, but two choices — the year and the payment type — decide whether the money is credited correctly. Here is every step, with the deta…
You'll enter these in the tax-paid schedule of your ITR. The payment also shows up in your Form 26AS / AIS within a few days. Check it there. Download the receipt from e-Pay Tax → Payment History any time.
It happens often, and it can be fixed. The e-filing portal has a challan correction facility for e-Pay Tax challans where the assessment year or payment type was chosen wrongly, available for a limited period after payment. Outside that window, ask your jurisdictional Assessing Officer to correct the challan.
Don't pay the same tax again to "fix" it. You'd have to claim the extra back as a refund.
| Mistake | What happens | How to avoid it |
|---|---|---|
Paying as "Self-Assessment Tax" in June | The payment isn't treated as an advance tax instalment, so interest can still apply | Choose "Advance Tax" for any payment made during the year |
Choosing the current year instead of the next assessment year | The tax is credited to the wrong year | Remember: tax for 2026-27 is assessment year 2027-28 |
Paying on 15 March after bank cut-off | The payment may be dated the next day | Pay a day or two early |
Using a family member's PAN | The credit goes to the wrong person | Always check the name the portal shows after you enter the PAN |
Not keeping the challan | Hard to prove payment if it doesn't show in 26AS | Download it from Payment History and file it |
The steps are the same, using the entity's PAN. The instalment percentages and due dates are the same as for individuals. Companies can't use the presumptive single-instalment option available to small businesses and professionals. If several people pay on behalf of a business, agree who pays which instalment, so nothing is missed or paid twice.
If you're not sure whether you need to pay at all, use our income tax calculator to estimate the year's tax first.
Freelancers, consultants and business owners who would rather not track instalments can hand it to TaxQue. Our income tax filing team estimates each instalment and files the return at year end.
This article is published by TaxQue (ARB FinTech LLP) for general informational, educational, and business guidance purposes only. Tax laws, GST rules, MCA circulars, and judicial precedents are subject to frequent statutory revisions. This content does not constitute formal individualized tax, accounting, or legal counsel.
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