Advance Tax Calculator Tool
Fast, secure and easy‑to‑use advance tax calculator solution — ideal for students, professionals and daily PDF tasks.
Basic Details
Annual Income Details
Deductions (Only for Old Regime)
Tax Already Paid
Advance Tax Liability (FY 2024-25)
Installment Schedule
The Ultimate Advance Tax Calculator for FY 2024-25 (AY 2025-26)
Paying taxes as you earn is a fundamental principle of India's income tax system. This is known as Advance Tax. For salaried individuals, freelancers, and businesses, calculating the correct advance tax amount and paying it on time is a legal obligation to avoid penalties. To simplify this crucial financial task, we have developed a comprehensive and highly accurate **Advance Tax Calculator**. This tool is designed to help you **calculate your advance tax** liability for the financial year 2024-25, complete with installment details for both the Old and New Tax Regimes.
Why This Online Advance Tax Calculator is Essential for You
Manually estimating your annual income, applying the correct tax slab, and then calculating quarterly installments can be a daunting process. Our **advance tax calculator for FY 2024-25** automates this entire workflow, providing you with clarity and peace of mind.
- Old vs. New Regime Comparison: The calculator supports both the Old and New Tax Regimes. It automatically adjusts deductions and applies the correct tax slabs as you switch between the two, helping you make an informed choice.
- Comprehensive Income and Deduction Inputs: It allows you to enter various income sources and claim major deductions like 80C, 80D, and HRA under the Old Regime.
- Detailed Tax Breakdown: You get a complete picture of your tax liability, including your total income, deductions, taxable income, income tax, surcharge, cess, and the final advance tax payable.
- Clear Installment Schedule: The standout feature is the clear, four-part installment schedule, showing you the exact amount payable by each due date (15th June, 15th Sept, 15th Dec, and 15th March).
- Save and Share: You can download a summary of your tax calculation as an image for your records or share it with your financial advisor.
What is Advance Tax and Who Needs to Pay It?
Advance tax, as the name suggests, is the income tax paid in advance during the financial year instead of in a lump sum at the end of the year. It is a 'pay-as-you-earn' system. According to the Income Tax Act, any individual whose estimated tax liability for a financial year is **₹10,000 or more** is required to pay advance tax. This applies to:
- Salaried Individuals: If you have significant income from other sources like rent, capital gains, or interest, your TDS might not cover your total tax liability.
- Freelancers and Professionals: Since no TDS is deducted from their income, they must estimate their earnings and pay advance tax.
- Businesses: All businesses and corporations are required to pay advance tax.
Senior citizens (aged 60 or above) who do not have any income from business or profession are exempt from paying advance tax.
How to Use the Advance Tax Calculator
Our **online advance tax calculator** is designed for simplicity:
- Enter Basic Details: Select your age group and choose between the Old and New Tax Regimes.
- Provide Income Details: Enter your estimated annual income from salary and other sources.
- Claim Deductions: If you are using the Old Regime, enter your planned investments and expenses under sections 80C, 80D, etc. These fields will be disabled if you choose the New Regime.
- Enter TDS: Input any tax that has already been deducted at source (TDS).
- Get Your Results: The calculator will instantly display your total tax liability and the precise amount to be paid in each of the four installments.
Advance Tax Due Dates for FY 2024-25 (AY 2025-26)
It is crucial to pay your advance tax installments by the specified due dates to avoid interest penalties under Section 234B and 234C. The due dates and the cumulative percentage of tax to be paid are as follows:
| Installment | Due Date | Cumulative Tax Payable |
|---|---|---|
| First | On or before 15th June 2024 | 15% of total advance tax |
| Second | On or before 15th September 2024 | 45% of total advance tax |
| Third | On or before 15th December 2024 | 75% of total advance tax |
| Fourth | On or before 15th March 2025 | 100% of total advance tax |
Our **advance tax due dates** calculator provides the exact amount for each of these installments.
Old vs. New Tax Regime: A Quick Comparison
Our calculator helps you choose the better regime by showing the tax liability in both. Here's a quick summary:
- Old Tax Regime: Features higher tax rates but allows you to claim a wide range of deductions and exemptions (like 80C, 80D, HRA, LTA). This is beneficial for those who make significant tax-saving investments.
- New Tax Regime: Offers lower, more simplified tax slabs but requires you to forgo most of the common deductions and exemptions. This is often beneficial for those with fewer investments.
Frequently Asked Questions (FAQ)
Q1: What happens if I miss an advance tax payment?
If you fail to pay the required amount by the due date, you will be liable to pay penal interest. Interest under Section 234C is charged at 1% per month for the period of default.
Q2: How do I pay advance tax online?
You can pay advance tax online through the Income Tax Department's e-filing portal using Challan 280. You will need your PAN card and bank account details for the payment.
Q3: What if my actual income is different from my estimate?
You can revise your estimated income in a subsequent quarter and adjust the amount of your advance tax installment accordingly. The goal is to ensure that you have paid at least 90% of your total tax liability by the end of the financial year to avoid interest under Section 234B.
Q4: I am a senior citizen. Do I need to pay advance tax?
If you are a resident senior citizen (60 years or older) and do not have any income from a business or profession, you are exempt from paying advance tax.