Advance tax
Regulation & taxIncome tax paid in instalments through the year by anyone whose annual liability exceeds ₹10,000.
In plain terms
Four dates: 15 June, September, December and March. Shortfalls carry interest under sections 234B and 234C.
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Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Form 26AS
Regulation & taxThe government’s consolidated statement of tax deposited against your PAN, including TDS, advance tax and self-assessment tax.
In plain terms
Credit for tax deducted exists only once the deductor has both deposited it and filed a return quoting your PAN correctly. Check this rather than the deductor’s word before filing.