Advance Tax Calculator

Financial Year (FY): 2022 - 2023
Assessment Year (AY): 2023 - 2024

Please fill following

INR
INR
Assessed Tax ₹0

Advance Tax Schedule

#Quaterly DeadlinePercentageTax to be paid
1Jun 15th, 202215%₹0
2Sep 15th, 202245%₹0
3Dec 15th, 202275%₹0
4Mar 15th, 2023100%₹0

Advance Tax Payment Installments

INR

Total Tax Paid:

₹0

Interest U/S Section 234C

Quarterly DeadlineTax Payment DoneTax Liability (till deadline)Interest u/s 234C
Jun 15th, 2022₹0₹0₹0
Sep 15th, 2022₹0₹0₹0
Dec 15th, 2022₹0₹0₹0
Mar 15th, 2023₹0₹0₹0
Total Interest Payable u/s 234C: ₹0

Interest Under Section 234B

No. of months elapsed: NA
Interest under u/s Section 234B: NA

Frequently asked questions

Advance tax is the amount of income tax that is paid much in advance rather than a lump-sum payment at the year-end. Also called 'pay-as-you-earn' scheme it refers to paying a part of your taxes before the end of the financial year.

The advance tax is the amount payable on your estimated income; however, TDS is the amount deducted by the payer from the source of income. Primary difference being that the Advance Tax is paid by assessee himself whereas TDS is the responsibility of the employer in case of Salary or payer in other cases.

Due Date
Advance Tax Payable
For both individual and corporate taxpayers
On or before 15th June
15% of advance tax
On or before 15th September
45% of advance tax less advance tax already paid
On or before 15th December
75% of advance tax less advance tax already paid
On or before 15th March
100% of advance tax less tax already paid
For taxpayers who have opted for Presumptive Taxation Scheme under section 44AD & 44ADA - Business Income
On or before 15th March
100% of advance tax

The interest for late payment is calculated at 1% per month or part of month on the amount of tax due from the due date till the date of actualy payment of oustanding taxes.

  1. Any person whose estimated tax liability for the year lower than or equal to Rs. 10,000 is not required to pay his tax in advance.
  2. A resident senior citizen (i.e., an individual of the age of 60 years or above) not having any income from business or profession is not liable to pay advance tax.

Advance tax is goverened by the provisions of Section 208 of the Income Tax Act, 1961.

For more details refer Section 208, 234A, 234B & Section 234C of the Income Tax Act, 1961.