Advance Tax Deadline in India, IRS Urges US Filings

The Income Tax Department of India has reminded taxpayers that the last installment of advance tax for the financial year 2024-25 is due by March 15, 2025, urging timely payment to avoid penalties. Advance tax applies to individuals and businesses with a total tax liability exceeding ₹10,000, excluding those with income solely from salaries with TDS deducted. Senior citizens over 60 without business income are exempt from this requirement. Penalty interest under sections 234B and 234C of the Income Tax Act applies for late payments. Additionally, the IRS in the U.S. is urging taxpayers to file their 2021 tax returns by April 15 to claim refunds, with significant amounts still unclaimed.