With the first advance tax date gone, income tax payers would have to begin again the task of planning their income for the financial year 2008-2009 so that they can pay the requisite amount of remaining two advance tax installment due on 15 December 2008 and 15 March 2009.

In the forthcoming Budget 2008, the finance minister may do away with the earlier practice of having different dates for filing Income Tax returns by individuals and corporates. Uptil now, July 31 was the last date for individual tax payers while for corporates and individuals whose account were required to be audited, the last date was October 31.