Advance Tax Computation
Computed each quarter, not guessed in March.
Advance tax is due in four instalments — 15% by 15 June, 45% by 15 September, 75% by 15 December and the whole of it by 15 March. Anyone with a tax liability above ₹10,000 for the year owes it.
Underpay an instalment and section 234C charges 1% a month on the shortfall; underpay the year and 234B charges 1% a month from April until you settle. Both are avoidable and both are common.
We compute from your actual position at each date rather than dividing last year by four.
What is included
- Liability projected at each instalment date
- Challan 280 prepared and paid
- Interest exposure under 234B and 234C tracked
- Year-end true-up before 15 March
What we need from you
- Management accounts or the ledger to date
- Last year's return and computation
- TDS credits already available in 26AS
Questions
Who has to pay advance tax?
Anyone whose total tax liability for the year, after TDS credit, exceeds ₹10,000. Resident senior citizens with no business income are exempt.
Also in Income tax
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Get started with Advance Tax Computation
Tell us a little about the business and a chartered accountant will call you back. You will get a firm quote before any work begins.
- A qualified accountant on the call, not a call centre
- A firm quote before any work begins
- Your details are never sold or shared