Advance Tax Computation & Payment
Plan ahead. Pay smart. Stay compliant.
Advance tax refers to the payment of income tax in instalments during the financial year, instead of paying the entire tax liability at the time of filing the income tax return. It is applicable to taxpayers whose estimated tax liability exceeds the prescribed threshold and is intended to ensure a steady flow of revenue to the government while reducing the year-end tax burden on taxpayers.
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Who is Liable to Pay Advance Tax
Advance tax is payable by:
Individuals, firms, LLPs, companies, and other entities
Businesses and professionals, including freelancers
Taxpayers earning income from sources such as business or profession, capital gains, rent, interest, or other taxable income
Exemption: Senior citizens (aged 60 years or above) who do not have income from business or profession are exempt from paying advance tax.
Threshold Limit: Advance tax becomes applicable when the estimated total tax liability for the financial year is ₹10,000 or more, after adjusting for TDS/TCS.
Due Dates for Advance Tax Payment
For non-presumptive taxpayers:
15th June
15%
At least 15% of total tax liability
15th September
45%
At least 45% of total tax liability
15th December
75%
At least 75% of total tax liability
15th March
100%
100% of total tax liability
For taxpayers opting for presumptive taxation (Sections 44AD / 44ADA):
15th March – 100% of advance tax liability
Note: Failure to pay advance tax or short payment can attract interest under Sections 234B and 234C of the Income Tax Act.
Our Advance Tax Services
At CA Sowmya G & Associates, we assist clients with:
Accurate estimation of taxable income
Computation of advance tax liability considering deductions, exemptions, and TDS credits
Instalment-wise planning and timely payment support
Periodic review and revision of advance tax calculations
Advisory to minimize interest and ensure full compliance
Our proactive approach helps businesses and individuals maintain cash flow discipline, avoid penalties, and stay fully compliant with advance tax provisions.
Our Process
Income Estimation
Accurate projection of annual taxable income
Tax Computation
Calculate advance tax liability with all adjustments
Timely Payment
Ensure instalment-wise compliance
Why Choose Us
Cash Flow Discipline
Better financial planning throughout the year
Avoid Penalties
No interest under Sections 234B & 234C
Expert Guidance
CA-verified calculations and planning
Tax Optimization
Maximum deductions and exemptions