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Advance Tax

India National B.C. (74 Points)

10 December 2017

How to calculate advance tax Payment????

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2 Replies

BUNTY BOSE (2 Points)
Replied 11 December 2017

First quarter will consist 15% of last year total tax, second and third quarter will consist 30% and 30% of last year tax and rest 25% tax will have to give in last quarter..

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RAJNISH PANDEY (33 Points)
Replied 11 December 2017

Calculate your estimated income tax for the financial year and pay the tax in installments of 15,30,75,100 %

For example your estimated tax liability is 50000/- and TDS deducted is 10000/-
You shall pay advance tax in following manner
Advance tax 50000-10000=40000
1 installment 40000*15%=6000
2 installment 40000*30%-6000=6000
3rd install. 40000*75%-12000=18000
last inst. 40000*💯%-30000=10000