Provisional Tax – Tax Calendar

1st Payment – End of August

2nd Payment – End of February

3rd (optional) – End of September

TIP: Use realistic estimates to avoid penalties and interest.

What it is:

Provisional tax is not a separate tax, but a way of paying income tax in advance, based on estimated income. It helps spread the tax liability across the year.

Due Date:

1st payment: End of August (first half of tax year). 2nd payment: End of February (end of tax year). 3rd (optional) payment: End of September (to reduce interest).

Interest & Penalties:

Underestimating income may result in penalties. Late payments attract interest at the prescribed rate.

Requirements:

Any person earning income other than a salary (e.g., business owners, investors) may need to register as a provisional taxpayer. Estimates must be realistic and accurate to avoid penalties.