📅 Quarterly Tax Payments
Advance Tax Calculator – Quarterly Installments
🧮 Calculate Advance Tax Installments
Total Advance Tax
₹–
Q1 (By June 15) – 15%–
Q2 (By Sep 15) – 30% more–
Q3 (By Dec 15) – 30% more–
Q4 (By Mar 15) – 25% more–
Enter tax liability above.
📅 What is Advance Tax?
Advance Tax is income tax paid in installments during the year based on estimated income, applicable when tax liability exceeds Rs. 10,000 after TDS.
Due Date Schedule
| Due Date | Cumulative % Payable |
|---|---|
| June 15 | 15% |
| September 15 | 45% |
| December 15 | 75% |
| March 15 | 100% |
Related Calculators
⚠ Interest Penalty Calculation — Sections 234B and 234C
| Section | Applies When | Interest Rate |
|---|---|---|
| 234A | Late filing of return itself | 1% per month on unpaid tax |
| 234B | Advance tax paid is less than 90% of assessed tax | 1% per month from April 1 till payment |
| 234C | Shortfall in quarterly installments (even if 90% total paid) | 1% per month for the shortfall period |
⚠ Common Mistake: Even if you pay 100% of your tax liability by March 31, if you didn’t pay the correct percentage by EACH quarterly deadline (15%, 45%, 75%, 100%), Section 234C interest still applies for the shortfall period of each missed quarter.
✅ Who is Exempt from Advance Tax
- Senior citizens (60+): Exempt if they don’t have income from business or profession
- Salaried employees: Generally exempt if employer TDS covers full tax liability and no other significant income exists
- Presumptive taxation scheme (44AD/44ADA): Can pay 100% advance tax by March 15 in a single installment instead of quarterly
Related Calculators
💼 Advance Tax for Freelancers and Consultants
Freelancers and consultants with variable income often struggle to estimate advance tax accurately. Here’s a practical approach:
- Estimate annual income based on contracts/projects secured and historical patterns
- Calculate expected tax liability using current slab rates
- Pay quarterly installments per the 15/45/75/100% schedule
- Reassess and adjust in later quarters if income estimate changes significantly
💡 Presumptive Taxation Alternative: Freelancers/professionals with turnover under ₹75 lakh can opt for presumptive taxation (Section 44ADA), paying tax on 50% of gross receipts as deemed income, simplifying advance tax calculation to a single March 15 payment.
❓ Frequently Asked Questions
What is advance tax? +
Advance tax is income tax paid in installments during the financial year rather than as a lump sum at year-end, applicable to anyone with tax liability exceeding Rs. 10,000 after TDS in a financial year.
What are the advance tax due dates? +
FY due dates: 15% by June 15, cumulative 45% by September 15, cumulative 75% by December 15, and 100% by March 15. Missing these dates attracts interest penalty under Sections 234B and 234C.
Who needs to pay advance tax? +
Any taxpayer (individual, business, professional) whose estimated tax liability for the year exceeds Rs. 10,000 after TDS deduction must pay advance tax. Senior citizens without business income are exempt.
What happens if I don’t pay advance tax on time? +
Interest penalty under Section 234B (1% per month for shortfall) and Section 234C (1% per month for delayed installments) is charged on the unpaid or delayed advance tax amount.
How do I pay advance tax? +
Pay advance tax online through the Income Tax e-filing portal using Challan 280, or through authorized bank branches. Select ‘Advance Tax’ as payment type and enter the relevant assessment year.
Is advance tax applicable to salaried employees? +
Salaried employees with only salary income typically don’t need to pay advance tax separately since employer TDS covers it. However, if you have additional income (capital gains, rental, freelance) exceeding Rs. 10,000 tax liability, advance tax applies.