Calculate quarterly advance tax installments
Your balance tax is ₹30,000. You need to pay advance tax as it exceeds ₹10,000.
Advance Tax is paying your income tax in installments during the financial year instead of a lump sum at year end. It's also called "pay as you earn" tax.
If your total tax liability exceeds ₹10,000 after TDS, you must pay advance tax in quarterly installments. Our calculator helps you determine each installment amount and track due dates.
Any person whose estimated tax liability for the year is ₹10,000 or more (after TDS) must pay advance tax. This includes salaried individuals with other income, self-employed professionals, freelancers, and businesses.
For non-corporate taxpayers: 15% by June 15, 45% by September 15, 75% by December 15, and 100% by March 15. Senior citizens (60+) without business income are exempt from advance tax.
You'll be charged interest under Section 234B (1% per month on shortfall from 90%) and Section 234C (1% per month for deferment of individual installments). Interest is calculated from due date to date of payment.
Yes, advance tax is applicable in both old and new tax regimes. The obligation depends on your total tax liability exceeding ₹10,000, not the regime you choose.
Pay online through the Income Tax e-Filing portal using Challan 280. Select the correct assessment year and indicate 'Advance Tax (100)' as the type of payment. Keep the challan receipt for your records.