Advance Tax Calculator

Vikas Gupta (CHARTERED ACCOUNTANT) (16295 Points)

26 December 2010  

Advance Tax Calculator for Assessment Year 2011-12 ( Financial Year 2010-11 )
Advance Tax Rates and Due Dates for Individual Assessees

Advance Tax Rates and Due Dates for Individual Tax Payers

  • No advance tax is payable if the total tax liability after reducing the tax deducted at source is less than Rs. 10,000/-.
  • If Advance Tax is not paid in full for instalments falling due on 15th September and 15th December, interest at the rate of 1% on the short amount for 3 months is to be paid.
  • If Advance Tax is not paid in full for instalments falling due on 15th March, interest at the rate of 1% on the short amount for 1 month is to be paid. If you delay payment of the last instalment in March by even a day, you will have to pay interest on the entire instalment amount.
  • If you do not pay advance tax at all or if the aggregate paid by March 31 is less than 90 per cent of the total tax payable, you will have to pay an interest of 1 per cent per month on the deficit amount from April 1 of the following year till the date you file your return.

Applicable to Individual Male, Female and Senior Citizens and Hindu Undivided Families (HUFs)

Due Date Amount of Tax
15th September Atleast 30% of Tax on total income for the year.
15th December Atleast 60% of Tax on total income for the year less advance tax already paid.
15th March 100% of Tax on total income for the year less advance tax already paid.

Advance Tax Calculator for AY 2011-12 ( FY 2010-11 ) for Individual Tax Payers

Calculate Advance Tax Installment Payable by Individual Male, Female, Senior Citizen, HUF, AOP, BOI & AJP Tax payers.

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Important: Please RESET the Calculator after every calculation.
Estimated Income from Salary & Allowances / Pension / Profession for the Year
Estimated Income from House Property
Estimated Income from Capital Gains (Short Term + Long Term)
Estimated Income from Other Sources viz. interest income
Estimated Investments under Sec. 80C, 80CCC & 80CCD
(Max. Rs. 1 lakh) + (Rs. 20,000/- for investment in Infrastructure bonds)
Estimated Investments under Sec. 80D for Health Insurance
(Max. Rs. 20,000/- for Senior Citizens & Rs. 15,000/- for others)
Estimated Investments under Sec. 80D for Health Insurance of parents
(Max. Rs. 20,000/- if parents are Senior Citizen, otherwise Rs. 15,000/-)
Estimated Amount of any other eligible deduction from income
Estimated Income at Special Rate, if any
(Not to be included in Normal Rate Income stated above)
Estimated Income Tax at Special Rate
Advance Tax already paid
Total Taxable Income (at normal rates)
Income Tax at Normal Rates
Total Income Tax
Education Cess
Total Tax liability (Normal Rate + Special Rate)
Income Net of Income Tax Liability
Total Advance Tax Payable upto 15th December (60% of Total Tax Liability)
Balance Advance Tax Payable by 15th December
(Advance Tax Payable - Advance Tax Already Paid)