Can advance tax for Jan-Mar quarter be paid in multiple installments(challans) from diff banks

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Ashish Singhal

Senior Engineer

49 Points Joined July 2012

Hi All,

I have capital gain of around Rs. 20 lakhs incurred from sale of property during Jan - Mar, 2021 quarter and I need to pay that as advance tax before Mar 15, 2021. My question is can I pay this as multiple installments before the due date i.e. 12 lakhs from my ICICI bank via online payment by Marc 10th and remaining 8 lakhs from my SBI account via online payment by March 14th (some payment is expected by March 14th) and then I can mention both the challan numbers in the ITR advance tax details to get credit for the same. So basically I want to confirm that there is no restriction that the entire advance tax payment for the quarter has to be paid as single installment i.e. a single challan number.

Thx a lot for all the help,
Ashish Singhal

Replies (4)

CA PRAVEEN PACHALAG

208 Points Joined December 2008

You can pay advance tax in installments with payments from different banks. The tax credits will reflect in Form No 26AS.

Kapadia Pravin

17264 Points Joined December 2018

You can pay in multiple instalments. There is no restriction.

Ashish Singhal

Senior Engineer

49 Points Joined July 2012

Thanks for all the info. One more question, can capital gains from Mar 16 - Mar 31st be paid by march 31st or they have also to be paid on an anticipation basis by March 15 only.

Thx,
Aashish