Advance Tax for Tax Year 2026-27 and the New TDS Certificates — Form 130 (ex-16) & Form 131 (ex-16A)
Quick answer: Anyone whose tax after TDS exceeds ₹10,000 pays advance tax under Sections 406–407 of the Income-tax Act 2025: 15% by 15 June 2026, 45% by 15 September, 75% by 15 December and 100% by 15 March 2027 (presumptive s.58 taxpayers pay the whole amount by 15 March). Shortfalls attract 1% a month under Section 424 (ex-234B, where paid advance tax is below 90% of the assessed tax) and Section 425 (ex-234C, deferment). Employers issue Form 130 (ex-16) by 15 June 2027; deductors issue Form 131 (ex-16A) within 15 days of each quarterly statement's due date. CBDT's FAQ confirms the June 2026 instalment onward is paid under the new Act.
Last verified 4 October 2026 — rules on this page checked against the current notifications. We update it the day a rule changes.
Instalments — Tax Year 2026-27
| Due date | Cumulative advance tax | Presumptive (s.58) |
|---|---|---|
| 15 June 2026 | 15% | — |
| 15 September 2026 | 45% | — |
| 15 December 2026 | 75% | — |
| 15 March 2027 | 100% | 100% |
No advance tax where the liability after TDS is below ₹10,000; the exemption for resident senior citizens without business income is carried over — confirmed under s.406 at filing.
Interest and certificates
| Item | 1961 Act | 2025 Act |
|---|---|---|
| Interest — advance tax below 90% of assessed tax | 234B | s.424 — 1% per month |
| Interest — instalment deferment | 234C | s.425 |
| Interest — late return | 234A | s.423 |
| Salary TDS certificate | Form 16 | Form 130 — by 15 June 2027 for Tax Year 2026-27 (Rule 215) |
| Non-salary TDS certificate | Form 16A | Form 131 — within 15 days of the quarterly statement due date: 15 Aug, 15 Nov, 15 Feb, 15 Jun |
| Quarterly TDS statements | 24Q / 26Q / 27Q | Forms 138 / 140 / 144 |
What we do
- Quarterly advance-tax computation on the chosen regime, including capital gains and dividend spikes
- Employer side: Form 130 issuance, Form 138 statements and payroll TDS — see TDS returns
- Interest minimisation and intimation (s.270) handling when 26AS and the return disagree
Section and form numbers are quoted from the Income-tax Act, 2025, the Income-tax Rules, 2026 and CBDT's form FAQs; anything not yet confirmed on an official page is marked and checked at filing, never estimated.
Talk to us before you file anything
Frequently asked questions
What are the advance tax due dates for 2026-27?
15 June 2026 (15%), 15 September 2026 (45%), 15 December 2026 (75%) and 15 March 2027 (100%); presumptive taxpayers pay 100% by 15 March.
Who must pay advance tax?
Anyone whose tax liability after TDS is ₹10,000 or more in the tax year; resident senior citizens without business income are exempt (carried over).
What interest applies if I pay short?
1% a month under Section 424 where advance tax paid is below 90% of assessed tax, and Section 425 for deferring instalments (ex-234B/234C).
What is Form 130?
The salary TDS certificate that replaced Form 16 — employers issue it by 15 June following the tax year (15 June 2027 for 2026-27).
What is Form 131?
The non-salary TDS certificate that replaced Form 16A, issued within 15 days of each quarterly statement's due date.
Is advance tax for June 2026 under the old or new Act?
The new Act — CBDT's transition FAQ confirms instalments for Tax Year 2026-27 from June 2026 are paid under the Income-tax Act 2025.
Can advance tax be paid after 31 March?
Yes — as self-assessment tax with interest under s.424/425 as applicable.
Which statements replaced 24Q, 26Q and 27Q?
Forms 138, 140 and 144 respectively under the Income-tax Rules 2026.