A quick guide to advance taxes for traders

12 Mar 2024

An important aspect of being an active trader is ensuring you file your taxes on time. But most traders ignore this and end up with notices.

March 15th is the deadline for filing advanced taxes, and many traders think that it may be applicable to them. If you have an estimated tax liability of Rs 10,000 in the form of capital gains, then you have to pay advance taxes.

Profits from F&O and intraday are considered business income, and you will have to estimate their profits for the entire financial year and pay the applicable advance taxes as per the four installments. BTW, we’ve made this easier for you with all the tax-ready reports on Console.

If you’re a trader, here’s a quick guide by Quicko on how to estimate and pay advanced taxes.

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