Advance Tax Calculation & Payment
Advance tax must be paid in four instalments — June 15 (15%), September 15 (45%), December 15 (75%), and March 15 (100%) — if your total tax liability for the year exceeds ₹10,000. Failure to pay or short payment attracts interest at 1% per month under Sections 234B and 234C. We estimate your full-year income, compute the advance tax due at each instalment, generate challans, and track payment deadlines.
What's Included
Everything you get when you engage BSP Associate for Advance Tax Calculation & Payment.
- Full-year income estimation — salary, business, capital gains, rental
- Advance tax liability computation at each instalment date
- Challan 280 generation and payment assistance
- TDS credit reconciliation to avoid excess advance tax payment
- Interest computation under Sections 234B and 234C
- Mid-year revision if income changes significantly
- Year-end reconciliation with actual ITR liability
Documents Required
Have these ready before you reach out — it speeds things up considerably.
Documents You'll Need
Please arrange these before your consultation
- Latest salary slips and Form 16 (for salaried with other income)
- Business income estimate for the year (P&L up to date)
- Capital gains transactions executed so far during the year
- Rental income details and property tax paid
- Interest income from FDs and savings accounts (year-to-date)
- TDS deducted so far — Form 26AS or TDS certificates
Don't have these? We'll prepare them for you.
BSP Associate can draft and file all of the following
- Full-year income and tax liability estimate
- Instalment-wise advance tax computation workings
- Challan 280 for advance tax payment
- Interest liability computation under Section 234C
Frequently Asked Questions
Common questions about Advance Tax Calculation & Payment.
Anyone whose total tax liability for the year exceeds ₹10,000 (after TDS credit) must pay advance tax in instalments. This includes salaried individuals with significant other income (interest, rent, capital gains), business owners, professionals, and companies. Salaried individuals whose entire tax is covered by employer TDS are generally exempt.
BS Balaji
Founder & Principal Consultant
Have questions about Advance Tax Calculation & Payment? Get a free consultation — no commitment, no jargon.
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