Advance tax is exactly what it sounds like — paying your income tax in instalments throughout the financial year as you earn, rather than waiting until you file your return. If your total tax liability for the year (after TDS) exceeds ₹10,000, you are required to pay advance tax, and this applies not just to businesses but to any individual with significant income beyond salary — such as capital gains, rental income, or freelance earnings.
The advance tax schedule for individuals and most taxpayers requires payment in four instalments: 15% of the estimated tax liability by 15 June, 45% cumulative by 15 September, 75% cumulative by 15 December, and 100% by 15 March of the financial year. Missing or underpaying these instalments attracts interest under Sections 234B and 234C, calculated separately from the interest for late filing under Section 234A.
This calculator shows you how much you should have paid by each deadline based on your total estimated tax liability for the year, helping you stay on track and avoid interest charges.
Any taxpayer whose total tax liability for the year, after TDS, exceeds ₹10,000 — this includes salaried individuals with significant other income, freelancers, and businesses.
Yes — resident senior citizens (60 years or above) who do not have income from business or profession are exempt from paying advance tax.
You become liable to pay interest under Section 234C for the shortfall in that instalment, and potentially Section 234B if your total advance tax paid by 31 March falls short of 90% of your final tax liability.
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