Advance Tax Calculator
FY 2024-25 — Quarterly installment schedule and 234B/234C interest calculation
tuneIncome Sources (Annual Estimate)
functions Advance Tax Rules
Due if tax liability > ₹10,000 after TDS
15 Jun: 15% | 15 Sep: 45%
15 Dec: 75% | 15 Mar: 100%
234B: Interest if <90% paid by year-end
Total Tax Liability
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Enter at least one income source
Net Advance Tax Due
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After TDS deduction
Total Income
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All sources combined
Taxable Income
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After ₹75K std. deduction
Tax Before TDS
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Incl. 4% cess
TDS Already Paid
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From Form 26AS
Quarterly Installment Schedule (FY 2024-25)
| Due Date | Cumulative % | Cumulative Amt | This Installment |
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Interest u/s 234B (est.)
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Interest u/s 234C (est.)
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What is Advance Tax?
Advance tax is income tax paid in advance — in four quarterly installments — rather than all at once at year-end. It is mandatory if your total tax liability (after TDS) exceeds ₹10,000 in a financial year. Non-payment or underpayment attracts interest under Sections 234B and 234C.
The installment schedule: 15% by 15 June, 45% by 15 September, 75% by 15 December, and 100% by 15 March. Senior citizens with only pension/interest income (no business income) are exempt from advance tax.
lightbulb Example Calculation
Scenario: Salary ₹12L, business ₹5L, TDS deducted ₹80,000
1Total income = ₹17L, taxable = ₹17L − ₹75K = ₹16.25L
2Tax + cess ≈ ₹3,37,500 | Net after TDS = ₹2,57,500
31st installment (15 Jun) = 15% × ₹2,57,500 = ₹38,625
✓ Must pay in 4 installments to avoid 234B/234C interest
Frequently Asked Questions
Advance tax and quarterly payments explained
Who needs to pay advance tax?
Any taxpayer whose estimated tax liability for the year exceeds ₹10,000 after TDS must pay advance tax. This includes salaried employees with additional income (interest, capital gains, rental income), freelancers, business owners, and investors. Senior citizens (60+) with only pension or interest income (no business income) are exempt from advance tax.
What is the interest penalty for not paying advance tax?
Section 234B: 1% per month simple interest if you pay less than 90% of total tax by 31 March. Section 234C: 1% per month for shortfall in quarterly installments — if you pay less than 15% by 15 Jun, less than 45% by 15 Sep, or less than 75% by 15 Dec. Both interest charges are in addition to the tax amount and can significantly increase your tax burden.
How is advance tax calculated for capital gains?
Capital gains arising before 15 September must be included in the 2nd installment; those before 15 December in the 3rd installment. This calculation is based on New Regime tax rates in this calculator. Note: STCG from equity is taxed at 20% flat, LTCG from equity above ₹1.25L at 12.5%. These may require separate calculation if you have significant capital gains.