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Advance Tax Payment – How to e-Pay Tax on the Income Tax Website?

Shitanshu Kapadia
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Advance Tax Payment – How to e-Pay Tax on the Income Tax Website?

Advance tax is the tax paid in installments instead of a lump sum at the end of the financial year. It is also known as ‘pay-as-you-earn’ tax. This system ensures a steady inflow of revenue for the government and reduces last-minute tax burdens for taxpayers. Advance Tax Payment can be done on the Income Tax Website. Here are details about Advance Tax Payment including step by step process to e-Pay Tax on the Incom Tax Website.

Advance Tax Payment

What is Advance Tax?

Advance tax refers to the income tax paid beforehand rather than as a single payment at the end of the financial year. It is the tax you incur while you generate income. These payments must be made in installments according to the due dates set by the income tax department.

Who Should Pay Advance Tax?

Employees, self-employed individuals, and companies – If your total tax obligation is ₹10,000 or higher in a financial year, you must make advance tax payments. The advance tax is applicable to every taxpayer, including salaried workers, freelancers, and companies.

Elderly individuals – Those who are 60 years or older and do not operate a business are not required to pay advance tax. Thus, only elderly individuals (aged 60 or older) with business earnings are required to pay advance tax.

Presumptive income for businesses – Taxpayers who choose the presumptive taxation scheme outlined in section 44AD must pay their entire advance tax in a single installment by 15th March. They additionally have the choice to settle all their tax obligations by March 31st.

Presumptive income for professionals—Independent professionals like doctors, lawyers, architects, etc., qualify for the presumptive scheme under section 44ADA. They must settle their entire advance tax obligation in a single payment by 15th March. They may also settle the total sum by 31st March.

Advance Tax is to be paid on a regular salary, including earnings from rent, capital gains, lottery earnings, fixed deposits, and more.

Download Income Tax Calculator FY 2025-26 (AY 2026-27)

Advance Tax Due Dates For FY 2024-25

Due Date Advance Tax Payment Percentage
On or before 15th June 15% of advance tax
On or before 15th September 45% of advance tax (-) advance tax already paid
On or before 15th December 75% of advance tax (-) advance tax already paid
On or before 15th March 100% of advance tax (-) advance tax already paid

How to Calculate Advance Tax?

  • Estimate Total Income: Sum up all income sources – salary, business, capital gains, rent, or interest.
  • Deduct Allowable Expenses: Reduce applicable deductions like 80C, 80D, HRA, home loan interest, etc.
  • Compute Tax Liability: Apply the prevailing income tax slab rates.
  • Subtract TDS Deducted: Reduce the tax already deducted at the source.
  • Determine Advance Tax Amount: If the balance tax liability exceeds Rs. 10,000, divide it per the due dates mentioned above.

How to Pay Advance Tax on Income Tax Website?

1. Visit the e-filing portal of the Income Tax Department of India.

2. On the left side of the home page, you’ll find a ‘Quick Links’ section; select the ‘e-Pay Tax’ option. You can additionally look for ‘e-Pay Tax’ in the search field

3. On this page, input your PAN and input it again to verify. Next, input your mobile number and press ‘Continue’

4. Please input the 6-digit OTP that was sent to your mobile number and press ‘Continue’

5. Select the box with label as ‘Income Tax’ and click on ‘Proceed’

6. Select the ‘Assessment Year’ as 2025-26 and ‘Type of Payment’ as ‘Advance Tax (100)’ and click on ‘Continue’.

7. Enter all the tax details.

8. Select the payment method and the bank and press ‘Continue’.

9. Review the challan information and select ‘Pay Now’. You can also ‘Edit’ this information if necessary.

10. Once the payment is completed, you will receive a confirmation on the following screen. The BSR code and challan serial number can be found on the right side of the challan. Keep a copy of this tax receipt for future use. You must input the BSR code and challan number in your tax return.

Penalties for Non-Payment or Late Payment

Interest Under Sections 234B & 234C

  • Section 234B: If at least 90% of the total tax liability is not paid by March 31, interest at 1% per month is charged.
  • Section 234C: If advance tax installments are not paid on time, a penalty of 1% per month is imposed on the unpaid amount.

Benefits of Paying Advance Tax

  • Avoids last-minute tax burden: Spreads tax payments across the year.
  • Reduces interest penalties: Timely payment saves money on penalties.
  • Smooth cash flow for businesses: Helps manage finances better.
  • Prevents legal issues: Keeps taxpayers compliant with tax laws.

Frequently Asked Questions (FAQs)

1. What happens if I miss an installment?

If you miss an installment, interest penalties under Sections 234B and 234C apply.

2. Can I get a refund if I overpay?

Yes, any excess tax paid will be refunded by the Income Tax Department after assessment.

3. Can I pay advance tax in one go?

Yes, you can pay the entire advance tax in one installment instead of multiple payments.

4. Is advance tax applicable to NRIs?

Yes, NRIs with taxable income exceeding Rs. 10,000 in India need to pay advance tax.

5. What if my income changes after making an advance tax payment?

You can adjust future installments accordingly, but any shortfall might attract interest.

6. Do I need to pay advance tax if my employer deducts TDS?

If TDS covers your tax liability, no advance tax is needed. But if you have additional income, advance tax is applicable.

7. Can I pay advance tax offline?

Yes, you can visit designated bank branches and pay via Challan 280.

8. What is the penalty for failing to pay advance tax?

Interest under Sections 234B and 234C applies, increasing your tax burden.

9. Can a salaried person pay advance tax?

Yes, if they have additional income sources like rent, dividends, or capital gains.

10. Is advance tax applicable to small businesses?

Yes, if the tax liability exceeds Rs. 10,000. However, businesses under the presumptive taxation scheme pay in a single installment by March 15.

By understanding advance tax and making timely payments, you can avoid penalties and manage your tax burden efficiently!

SEBI Registered Advisors: How the Official List Ensures Credibility and Trust

Shitanshu Kapadia
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0
SEBI Registered Advisors: How the Official List Ensures Credibility and Trust

Investing money can be intimidating for many people in India. Without sound financial knowledge or experience, making the right investment decisions seems challenging. This is where seeking advice from professionals enters the picture. Financial advisors provide guidance to investors and help them achieve their financial goals.

SEBI Advisor

However, how do you ensure an advisor is qualified, ethical, and working in your best interest? This is where SEBI-registered investment advisors play a vital role. Let’s get to know more about  SEBI Registered Advisors in the blog below:

What Does SEBI Registered Mean?

SEBI, or Securities and Exchange Board of India, is the regulatory body that oversees Indian securities and commodity markets. It has laid down guidelines and eligibility criteria for professionals registering as Registered Investment Advisors (RIAs). By registering with SEBI, advisors and advisory firms agree to follow SEBI’s code of conduct and regulations.

The rigorous registration process ensures that only qualified and ethical advisors offer investment advice. Essentially, SEBI registered status certifies that an advisor possesses the necessary skills, knowledge, and intention to provide unbiased financial advice while keeping investors ‘ interests first.

Why Choose a SEBI Registered Financial Advisor?

There are several reasons why you should choose  someone from the SEBI registered advisor list:

1. Assurance of Credibility & Competence

SEBI-registered advisors must satisfy extensive eligibility prerequisites related to educational qualifications, professional certifications, and work experience in relevant areas such as securities trading, portfolio management, investment analysis, etc. For instance, they must hold specific degrees, such as an MBA (Finance), CFA, CFP, or CA. This confirms that the advisor has an in-depth understanding of different investment avenues and portfolio strategies.

2. Adherence to Ethical Practices

Registered advisors must furnish declarations about their disciplinary history, potential conflicts of interest, and criminal records (if any). This transparency ensures advisors follow ethical practices. Advisors cannot receive commissions from product providers they recommend. All fees must be directly paid by the investor alone, preventing biased advice.

3. Legal Protection for Investors

Seeking advice from SEBI-registered professionals brings legal protections under SEBI regulations. Investors can demand compensation or file official complaints, which SEBI investigates. This regulatory oversight builds confidence in the advisory process. Conversely, investors have limited recourse when dealing with non-registered entities as disputes remain outside SEBI’s purview.

4. Defined Fee Structure

Unlike informal agents, RIAs follow a transparent, upfront fee model published on SEBI’s website. Common structures include:

  • Fixed one-time project fees
  • Recurring annual charges as a percentage of Assets Under Management
  • Hourly consultation charges

Such formalisation leaves no room for exploitative hidden costs. Investors clearly understand advisor compensation.

Verifying SEBI Credentials

Investors can easily verify an advisor’s SEBI registration status by:

  • Checking the Official List: SEBI publishes approved advisors’ names and registration details on its website. Investors must validate that the name, address, registration number and contact information match the advisor’sadvisor’s claims.
  • Obtaining the Registration Certificate: Every RIA displays an official certificate proving their registered status. Investors should review this certificate and confirm that it bears the advisor’s name and signature alongside SEBI’sSEBI’s stamp.
  • Tracking Renewal Status: Registrations need renewal every 3 years. Investors must check that the advisor’sadvisor’s registration status is active without violations using SEBI’sSEBI’s status tracker.

Consequences of Non-Registered Advice

Opting for investment guidance from non-registered entities has several downsides:

  • Lack of Accountability: Investors cannot hold non-registered players accountable for deliberate misguidance or fraud without regulatory oversight.
  • No Transparency: Such players need not follow ethical codes or display fee structures transparently. Investors may suffer hidden charges diluting returns.
  • Substandard Knowledge: Informal agents may lack the expertise or depth of knowledge needed to craft suitable financial plans catering to investor risk appetites.
  • Biased Advice: Non-registered entities often earn commissions by promoting certain instruments. Their advice champions specific products rather than the investor’s interest.

Conclusion

Given dynamic, often volatile market conditions, retail investors in India need reliable advisors to meet their financial goals without taking excessive risks. SEBI-registered investment advisors serve as guides investors can depend upon for unbiased, high-quality advice. SEBI safeguards investor interests by mandating rigorous eligibility criteria, transparency, ethical conduct, and regulatory discipline.

ACH vs Wire Transfers: Which Payment Method is Best?

Shitanshu Kapadia
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ACH vs Wire Transfers: Which Payment Method is Best?

When it comes to transferring money electronically, two popular options often come up: ACH (Automated Clearing House) transfers and wire transfers. While both serve the purpose of moving funds between bank accounts, they have distinct differences in terms of speed, cost, security, and use cases.

So, which option should you select? Regardless of whether you’re settling a bill, transferring funds to a friend, or conducting a significant business deal, grasping these two payment options will assist you in making the correct choice. In this article, we will explore the main distinctions between ACH and wire transfers, assisting you in selecting the optimal choice for your financial transactions.

ACH vs Wire Transfer

ACH vs. Wire Transfers

Several important factors are involved in ACH transfer versus wire transfer. These factors encompass speed, expense, safety, and the capacity to undo transactions. Let’s understand this in detail.

Availability

ACH payments can only be used for domestic transactions inside the United States, as the Automated Clearing House network links U.S. financial institutions. In contrast, wire transfers can be conducted both within the country and internationally, making them a more flexible choice for cross-border transactions. Wire transfers allow you to send funds to more than 200 nations in 130 different currencies, offering a worldwide scope for your financial dealings.

Cost

A major distinction between ACH and wire transfers is the expense involved. ACH payments tend to be cheaper than wire transfers, with numerous banks providing ACH services at little or no cost to the sender. Recipients usually do not face any charges for receiving ACH payments. Conversely, wire transfers have elevated fees, typically ranging from £25-£30 for outgoing domestic transfers and £45-£50 for international ones. Certain banks might impose a fee of £15 or higher for receiving wire transfers.

Speed

In terms of speed, wire transfers clearly outperform ACH payments. Domestic wire transfers can typically be finalized in 24 hours, with recipients frequently receiving the funds within a few hours. International wire transfers typically require one to two business days for processing. Conversely, regular ACH transfers may require three to five business days to process through the Automated Clearing House network. Although same-day ACH payments are increasingly popular, they could come with an extra charge.

Security

Both ACH payments and wire transfers are regarded as secure ways to transfer funds electronically. Wire transfers are safe transactions that do not require the sharing of personal information with the payment. The main danger linked to wire transfers is fraud, as a con artist deceives a person into sending money to them. Conversely, ACH payments are processed by a clearing house that confirms the bank account details of both the sender and the receiver. ACH payments provide greater consumer protection in instances of fraud or mistakes, permitting disputes and reversals within 60 days following the initial transaction.

Reversal

One more significant distinction between ACH deposits and wire transfers is the potential to reverse transactions. Wire transfers are tough to retract since the money is accessible to the recipient nearly right away. After a wire transfer is finalized, the sole method to try to recover the funds is to ask the recipient to send it back willingly. In comparison, ACH payments may be undone if the payer committed a mistake or if the payment was deceitful. This extra level of security makes ACH payments a more secure choice for transactions where disagreements could occur.

Limit of Transfer

When evaluating ACH transfers in relation to wire transfers, it’s crucial to take into account the transfer limitations set by banks and the ACH network. Wire transfers generally do not impose limits on the sum of money that can be sent, though specific banks may establish their own guidelines. Conversely, ACH transfers must adhere to restrictions established by the National Automated Clearing House Association (NACHA). As of 2023, the maximum limit per transaction for same-day ACH transfers is £100,000. For typical ACH transfers, the transaction limit is usually about £25,000, with a daily cap of up to £100,000, although these limits can differ by bank.

Use

ACH transfers are primarily used within the U.S., although some international options exist. Wire transfers work globally, making them ideal for international transactions.

How to Do International Fund Transfer Using SBI Netbanking?

Understanding ACH payments

ACH payments are electronic funds transfers that are carried out via the Automated Clearing House network, which links banks across the United States. This network enables the transfer of money between bank accounts without requiring paper checks, credit card systems, or cash. ACH transactions are handled in groups, generally multiple times daily, and are applicable for both direct deposits and direct payments.

ACH Payments Examples

Common examples of ACH payments include –

  • Payroll deposits
  • Government benefit payments
  • Tax refunds
  • Utility bill payments
  • Mortgage and loan payments
  • Insurance premium payments

ACH Transfers are processed exclusively on business days and may take a few days to clear based on the transaction type and the banks that are involved.

Understanding Wire transfers

Wire transfers are immediate electronic money transfers between different bank accounts. They are among the quickest methods for transferring money since the funds are sent one by one instead of in groups like ACH payments. Wire transfers are started by the sender’s bank, which connects with the recipient’s bank to finalize the transaction.

Wire transfers can be executed both locally and globally, making them a favored option for urgent or high-value transactions.

Wire Transfer Examples

For instance, a resident of the UK sending £50,000 to a relative in Australia for healthcare costs or an Indian purchaser moving ₹1 crore to buy a property in London. Nonetheless, they typically cost more than ACH payments because of the individual processing and the quick access to the funds for the recipient.

Pros and Cons of ACH Transfers

Pros:

✔ Cost-effective or free

✔ Safe with fraud protection

✔ Convenient for recurring payments

Cons:

✖ Slower processing times

✖ Limited international use

✖ Daily transfer limits

Pros and Cons of Wire Transfers

Pros:

✔ Fast and efficient

✔ No daily transfer limits

✔ Works internationally

Cons:

✖ Higher fees

✖ Irreversible transactions

✖ Higher fraud risk if not careful

Conclusion

Both ACH and wire transfers have their place in modern banking. ACH is great for routine, cost-effective transactions, while wire transfers shine in speed and global reach. Understanding the differences helps you make smarter financial decisions based on your needs.

FAQs

1. Can I reverse a wire transfer?

No, wire transfers are typically final and cannot be reversed.

2. Are ACH transfers always free?

Most ACH transfers are free, but some banks may charge small fees for certain transactions.

3. How long does an ACH transfer take?

ACH transfers generally take 1-3 business days.

4. Is ACH safer than a wire transfer?

ACH transfers have better fraud protection since they can often be reversed if unauthorized.

5. Can I send an ACH transfer internationally?

ACH transfers are mainly for domestic use, though some international options exist.

6. Why are wire transfers expensive?

Wire transfers involve direct bank-to-bank communication, requiring manual processing and additional security measures.

7. Is it possible to cancel an ACH transfer?

Yes, but only if the transaction has not been processed yet.

8. Do wire transfers work on weekends?

Most wire transfers are processed only on business days, though some exceptions exist.

9. Which method is better for businesses?

ACH is generally better for routine payments, while wire transfers are best for urgent, high-value transactions.

10. Can I send a wire transfer from my mobile banking app?

Many banks allow wire transfers through mobile apps, but it depends on the bank’s policies.

IRDAI Bima ASBA – UPI-Based Payment System for Insurance Premium

Shitanshu Kapadia
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0
IRDAI Bima ASBA – UPI-Based Payment System for Insurance Premium

In a world where convenience is king, the insurance sector is evolving to keep pace with technological advancements. One such innovation is IRDAI Bima ASBA, a UPI-based payment system for insurance premium payments.  

The Indian insurance industry is set for a significant change in premium payment methods with the launch of Bima-ASBA (Applications Supported by Blocked Amount) regulations by the Insurance Regulatory and Development Authority of India (IRDAI). Beginning March 1st, 2025, insurance companies must reserve the premium amount in the policyholder’s account and will only charge it after the successful completion of underwriting. This shift requires the implementation of UPI One-Time Mandates, affecting the way insurers gather payments from clients.

IRDAI Bima ASBA UPI

What is IRDAI Bima ASBA?

IRDAI Bima ASBA (Application Supported by Blocked Amount) is a digital payment method introduced by the Insurance Regulatory and Development Authority of India (IRDAI). It leverages Unified Payments Interface (UPI) to facilitate seamless and secure insurance premium payments.

Bima-ASBA (Applications Supported by Blocked Amount) is a UPI-driven payment mechanism launched by IRDAI, which allows insurance firms to reserve the policyholder’s premium funds in their bank account throughout the underwriting procedure. In contrast to the earlier system, which required insurers to charge the premium upfront—often resulting in adjustments or refunds—this new approach guarantees that the funds stay in the customer’s account until the policy gets approved.

Starting March 1, 2025, Bima-ASBA utilizes UPI One-Time Mandates to reserve the necessary funds in the policyholder’s account during the application process. The blocked sum is deducted only after the insurer finalizes underwriting and delivers the policy. If the application is denied or taken back, the allocated funds are instantly freed.

This system operates like ASBA in IPOs, with funds remaining in the investor’s account until shares are assigned. With Bima-ASBA, the premium is securely held until the insurer finalizes underwriting, providing enhanced transparency and control over payments.

Why Was Bima ASBA Introduced?

The traditional process of paying insurance premiums involved multiple steps, paperwork, and sometimes delays. With digital payments becoming the norm, IRDAI saw an opportunity to simplify premium payments while ensuring enhanced security and transparency.

Bima-ASBA was launched in answer to industry demands for simplifying premium collection while safeguarding policyholder interests. This feature not only streamlines premium payments but also supports IRDAI’s objective of enhancing operational efficiency within the insurance industry.

Key Features of Bima ASBA

  1. UPI-Integration – Direct payments from a bank account via UPI.
  2. Secure Transactions – Reduces the risk of fraud and unauthorized transactions.
  3. Paperless Processing – Eliminates the need for physical paperwork.
  4. Real-time Updates – Ensures instant acknowledgment of payments.
  5. Seamless Customer Experience – Enables quick and hassle-free premium payments.

How Does Bima ASBA Work?

Step 1: Policyholder’s Application

The customer opts for Bima ASBA while purchasing or renewing an insurance policy. Customer, seeking insurance, submits an application for a life insurance policy with InsureLife Insurance Company. Uncertain if he/she will receive the policy, the customer chooses Bima-ASBA instead of paying the premium in advance, allowing his/her bank to hold the premium amount through UPI.

Step 2: Blocking of Funds

Upon sending the proposal, the customer gets a UPI request from his bank to freeze the premium sum. After the customer’s approval, the bank reserves the designated amount, guaranteeing that it stays in his/her account but is unavailable for other transactions. Instead of deducting money upfront, the requested premium amount is blocked in the bank account.

Step 3: Approval Process

Insure Life Insurance Company verifies that the customer’s premium payment has been blocked. At this point, the customer is guaranteed payment approval, although the amounts have not been withdrawn yet.

Once the insurance provider approves the policy, the blocked amount is debited.  

Step 4: Policy Issuance

After successful payment, the policy is issued, and the insured gets an official confirmation.

If InsureLife denies a customer’s application due to underwriting standards, the insurer informs the bank to unfreeze the blocked funds. The money is released into the customer’s account without any deductions or postponements.

If a customer opts to cancel his/her application prior to finishing underwriting, he/she sends a cancellation request to InsureLife. The insurer subsequently directs the bank to unblock the amount within one business day.

Benefits of Using Bima ASBA for Policyholders

1. No Immediate Debit

Unlike traditional payments, where money is instantly deducted, Bima ASBA only blocks the amount until approval. Policyholders can now rest assured that there will be no delays in refunds if their policy application is denied. The blocked funds are automatically freed, removing the necessity for follow-ups.

2. Eliminates Payment Failures

Since the amount is blocked beforehand, issues like transaction failures due to insufficient funds are avoided. If an application is denied or taken back, the held funds are quickly freed, guaranteeing a seamless and trouble-free process.

3. Enhances Financial Control

Customers can manage their funds better, ensuring they have adequate balance before making payments. As the premium is deducted only upon approval, policyholders earn interest on the held funds throughout the underwriting period, which may last more than 15 days.

4. Increased Transparency

Funds stay in the customer’s account until the policy is issued, preventing insurers from gaining float income. This establishes confidence and offers full transparency regarding the payment procedure. Customers are notified at every stage, making the process more transparent.

Advantages for Insurance Companies

1. Reduced Payment Risks

Since the premium amount is blocked, insurers face fewer issues related to failed or bounced payments.

2. Faster Policy Processing

With seamless and verified payments, insurers can issue policies more quickly.

3. Streamlined Operations

Reduces paperwork and manual interventions, making the process more efficient.

How Bima ASBA Supports Digital India?

Promoting a Cashless Economy

By encouraging digital transactions, Bima ASBA aligns with the Government of India’s Digital India initiative.

Encouraging UPI Adoption

With UPI being the backbone of Bima ASBA, this initiative further strengthens India’s digital payment infrastructure.

Comparing Bima ASBA with Traditional Payment Methods

Feature Bima ASBA Traditional Payment Methods
Transaction Type Digital, UPI-based Cash, Cheque, Card Payments
Fund Handling Blocked until approval Instant deduction
Transparency High – Real-time tracking Moderate
Payment Failures Reduced More common
Processing Speed Fast Slow

Challenges and Limitations of Bima ASBA

  1. Limited Awareness – Not many customers are aware of this system yet.
  2. UPI Dependency – Requires a functioning UPI system and active internet connection.
  3. Adoption by Insurers – Some insurers may take time to fully integrate this payment method.

How to Use Bima ASBA for Insurance Payments?

  1. Check Insurer Support – Ensure your insurance provider supports Bima ASBA.
  2. Register with UPI – Link your bank account with a UPI-enabled app.
  3. Select Bima ASBA During Payment – Choose this option while making your insurance payment.
  4. Approve Transaction – Authorize the blocking of funds.
  5. Wait for Confirmation – The policy will be issued once the payment is approved.

Future of Bima ASBA

With increasing digital adoption, Bima ASBA is expected to become a mainstream payment method for insurance premiums. As more insurers and customers embrace this technology, we can expect further enhancements and integrations.

Conclusion

IRDAI Bima ASBA is a game-changer in the insurance industry, making premium payments more secure, convenient, and transparent. By leveraging UPI, it simplifies transactions while ensuring better financial management for policyholders. As digital payments continue to evolve, embracing solutions like Bima ASBA is the way forward for a seamless insurance experience.

FAQs

1. Is Bima ASBA available for all types of insurance?

Currently, it is being rolled out by select insurers, but it is expected to cover all insurance types soon.

2. Do I need a special app for Bima ASBA?

No, you can use any UPI-enabled banking app for Bima ASBA transactions.

3. Can I cancel my policy after opting for Bima ASBA?

Yes, cancellation policies depend on the insurer, but if canceled before approval, the blocked amount is released.

4. What happens if my bank balance drops below the blocked amount?

The transaction may fail if your account does not have sufficient funds when the final payment is processed.

5. Is Bima ASBA safer than traditional payment methods?

Yes, since it operates within the secure UPI framework, it minimizes fraud risks and unauthorized transactions.

6. Do I have to pay extra charges for using Bima ASBA?

No, there are no additional charges for using this payment method.

7. Which banks support Bima ASBA?

Most major banks in India support UPI-based transactions, including Bima ASBA.

8. Can I use Bima ASBA for group insurance policies?

Yes, as long as the insurer provides this payment option for group policies.

9. What if my payment gets stuck?

In case of issues, you can contact your insurer’s customer service or your bank’s UPI support team.

10. How soon will my policy be issued after payment approval?

Policies are usually issued instantly or within a short processing time after approval.

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