Advance Tax: The government relies on taxes to fund its activities like building infra and providing various services. India has organised a tax collection plan called tax structure. People pay taxes based on their income, following specific tax slabs in which they are in. Some pay the tax just before the deadline, while some pay after the deadline with a fine. Advance tax is one such method determined based on your payment time and method. Let us briefly know about it to effectively manage tax plan.