1. Advance Tax Q2 — Due 15 September 2026
If your total tax liability for FY 2026-27 exceeds ₹10,000, you’re required to pay advance tax in installments throughout the year. The second installment — cumulative 45% of your total estimated tax liability — is due 15 September 2026.
Who Must Pay
- Salaried individuals with significant income outside salary (capital gains, rental income, freelance income)
- Business owners and professionals
- Anyone whose estimated annual tax liability exceeds ₹10,000
Penalty for Missing It
Interest under Section 234C applies for shortfall in advance tax installments — effectively 1% per month on the shortfall amount. This adds up quickly and is entirely avoidable with timely payment.
How to Pay
Advance tax is paid via Challan 280 on the income tax e-filing portal (incometax.gov.in). You’ll need to estimate your annual income and tax liability, then pay the cumulative 45% due by today’s deadline.
2. GSTR-3B — Due 20 September 2026
GSTR-3B for the month of August 2026 must be filed by 20 September 2026. This is your summary GST return with the associated tax payment.
Late Fee Structure
- ₹50/day (₹25 CGST + ₹25 SGST), capped at ₹10,000
- Nil returns: ₹20/day, capped at ₹500
- Interest on unpaid tax: 18% per annum
What to Check Before Filing
- Reconcile GSTR-2B for accurate ITC claims
- Verify all outward supplies from GSTR-1 are reflected correctly
- Confirm no pending amendments from previous periods
Don’t Let These Slip
Both deadlines carry real, compounding costs for delay — advance tax interest accrues monthly, and GST late fees stack daily. If you’re not confident your filings are ready, now is the time to act, not after the deadline passes.
We can review your advance tax estimate or file your GSTR-3B today. Reach out now — don’t wait until the last hour.
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FAQs
What happens if I miss the 15 September advance tax deadline?
Missing the advance tax installment triggers interest under Section 234C, calculated on the shortfall amount at approximately 1% per month until paid. There is no way to avoid this once the deadline passes — only to minimize further accrual by paying as soon as possible.
Can I file GSTR-3B a few days late without penalty?
No. Late fees for GSTR-3B begin accruing from the first day after the deadline — ₹50 per day for regular returns, capped at ₹10,000. There is no grace period.
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