Advance Tax Calculator

Advance tax is the tax paid in advance during the financial year instead of paying it as a lump sum at the end of the year. It's mandatory for individuals whose tax liability exceeds ₹10,000 in a financial year.

Our calculator helps you determine your advance tax liability and provides a detailed payment schedule with due dates and amounts for each quarterly installment.

Advance Tax Payment Schedule:

• 15th June: 15% of total tax liability
• 15th September: 45% of total tax liability (30% additional)
• 15th December: 75% of total tax liability (30% additional)
• 15th March: 100% of total tax liability (25% additional)

Who Must Pay Advance Tax:

• Salaried Individuals: If tax liability > ₹10,000 after TDS
• Business/Profession: If tax liability > ₹10,000
• Capital Gains: On sale of assets
• Other Income: Interest, rent, etc. where TDS is not deducted

Penalty for Non-Payment:

• Interest: 1% per month on unpaid amount
• Calculation: From due date until payment date
• Minimum: Interest charged even for partial delays

Features:

• Calculate total advance tax liability
• Quarterly payment schedule with due dates
• Consider TDS already deducted
• Visual payment timeline
• Installment amount breakdown