Prepaid Taxes

Tax Glossary Definition

Prepaid Taxes

Taxes paid to the government in advance before the final tax liability is determined at year-end. These include advance tax payments, Tax Deducted at Source (TDS), and Tax Collected at Source (TCS). Any excess prepaid tax is eligible for refund after filing the income tax return.


Example: A taxpayer pays ₹25,000 as advance tax in June toward their estimated yearly tax liability

India's Most Trusted
Pro Tax Filer

Discover why we're one of India's most trusted Pro Tax Filers, built on a foundation of accuracy and reliability.

  • We ensure maximum tax benefits.

  • Taxes? Handled by our CAs and experts.

  • Reliable, year-round tax support at no cost.

  • Satisfaction or your money back came twice.

Start Filing

Scan the QR code to Download the app

Mobile App Available on:

DOWNLOAD For IPHONE

TaxFilr App

DOWNLOAD For Android

TaxFilr App

Have Questions? Let’s Talk!

Chat With Us

Scan to chat

Scan QR Code

OR
Start Chat
Mobile Apps Available On
This feature is available on our mobile app. Get the app now to access this feature!

DOWNLOAD For IPHONE

TaxFilr App

DOWNLOAD For Android

TaxFilr App