State-specific compliance
Advance Tax Payment (Quarterly) in Odisha
How Advance Tax Payment (Quarterly) applies to a business operating in Odisha, with state-specific authority, citations and current deadlines.
Definition
Advance Tax Payment (Quarterly) as it applies to businesses operating in Odisha. Estimated income-tax liability above Rs 10,000 must be paid in four instalments — 15% by 15 Jun, 45% by 15 Sep, 75% by 15 Dec, 100% by 15 Mar. Presumptive scheme taxpayers pay 100% by 15 Mar.
- SourceIncome-tax Act, 1961 — Sections 207–219 — Section 211incometax.gov.in
What it means in practice
Advance Tax Payment (Quarterly) is a central regulation that applies uniformly across India, including Odisha. In Odisha, the day-to-day administering authority and the office where filings are submitted will be the jurisdictional Income-tax officer in Odisha.
Senior citizens with no business income are exempt. Resident individuals filing under 44AD/44ADA only pay one instalment in March.
- SourceIncome-tax Act, 1961 — Sections 207–219 — Section 211incometax.gov.in
Does Advance Tax Payment (Quarterly) apply to your business in Odisha?
Deadlines and penalty
Cadence: quarterly
Penalty for default: Interest u/s 234B (1% per month for shortfall) + 234C (1% per month per missed instalment).
Citations
- SourceIncome-tax Act, 1961 — Sections 207–219 — Section 211incometax.gov.in