Your quarterly installment schedule, and what missing it costs
Advance Tax Calculator
Advance tax you owe
0
total liability minus TDS/TCS credit
234B/234C interest if unpaid
0
1% per month, simplified estimate
The 4 installment dates
15% of annual liability by 15 June, 45% cumulative by 15 September, 75% cumulative by 15 December, 100% by 15 March — miss any cumulative threshold and interest starts accruing on the shortfall.
Who must pay it
Anyone with tax liability above Rs 10,000 after TDS/TCS credit must pay advance tax — this catches freelancers, consultants, and anyone with capital gains or rental income where TDS doesn't fully cover the bill.
Section 234B vs 234C
234B charges 1%/month on the shortfall from 1 April if you've paid less than 90% of total liability by year-end; 234C charges 1%/month per missed quarterly installment even if you catch up by March.
Interest is a simplified estimate of Section 234B/234C exposure (1% per month on the unpaid installment shortfall) and doesn't model every carve-out (capital gains and lottery income get relief from 234C for the quarters before the income arose). Presumptive-taxation taxpayers under 44AD/44ADA only need to pay the full amount by 15 March in one installment, not the 4-installment schedule shown here — check your specific situation. Not tax advice.
Frequently asked questions
Should I choose the old tax regime or the new one?
It depends on how many deductions and exemptions you actually claim (80C, HRA, home loan interest, and similar). If your eligible deductions are substantial, the old regime often works out cheaper; if you claim few or none, the new regime's lower slab rates usually win. Compare both using your real numbers rather than assuming -- this calculator does that comparison directly.
What counts as a tax-saving investment?
Under the old regime, Section 80C covers instruments like PPF, ELSS mutual funds, EPF, life insurance premiums, and 5-year tax-saving FDs, up to the annual 80C cap. The new regime doesn't offer most of these deductions, which is the core trade-off between the two regimes.
How is capital gains tax calculated on mutual funds/stocks?
It depends on the holding period and asset type. Equity held over 12 months is taxed as long-term capital gains (with an annual exemption threshold); held less than 12 months, it's short-term and taxed differently. Debt funds follow their own, separate rules. Always check the current thresholds, since these are periodically revised.
What is TDS and when does it apply?
TDS (Tax Deducted at Source) is income tax deducted upfront by whoever pays you -- an employer, a bank paying FD interest above a threshold, and similar -- and deposited with the tax department on your behalf. It's an advance payment toward your total tax liability, not an extra tax, and is adjusted when you file your return.
Estimates only, not financial advice. See our Disclaimer.
