Free Advance Tax Calculator — FY 2024-25 Installment Schedule
Calculate your advance tax installments for FY 2024-25. Know exactly how much to pay by 15 June, 15 September, 15 December, and 15 March. Covers all taxpayer types including freelancers, businesses, and investors.
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Tax Details (FY 2024-25)
Your total income tax including surcharge and cess for FY 2024-25
TDS deducted by employer, clients, or banks during the year
Advance Tax Installments
Total Net Tax Payable
₹1,00,000.00
To be paid in 4 installments
Installment Schedule — FY 2024-25
| Quarter | Due Date | Cumulative % | Cumulative Due | Pay This Installment |
|---|---|---|---|---|
| Q1 (Apr–Jun 2024) | 15 June 2024 | 15% | ₹15,000.00 | ₹15,000.00 |
| Q2 (Jul–Sep 2024) | 15 September 2024 | 45% | ₹45,000.00 | ₹30,000.00 |
| Q3 (Oct–Dec 2024) | 15 December 2024 | 75% | ₹75,000.00 | ₹30,000.00 |
| Q4 (Jan–Mar 2025) | 15 March 2025 | 100% | ₹1,00,000.00 | ₹25,000.00 |
| Total Advance Tax | ₹1,00,000.00 | |||
Pay using Challan 280 on the Income Tax e-filing portal (incometax.gov.in) under "Self Assessment Tax (300)" or "Advance Tax (100)".
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How to Use This Advance Tax Calculator
- 1Enter your Estimated Annual Tax Liability — this is your total income tax including surcharge and health & education cess for FY 2024-25. Use our Income Tax Estimator if you are unsure of this figure.
- 2Enter the TDS Already Deducted — total TDS expected to be deducted by your employer, clients, or banks during the year. Check your Form 26AS for actual TDS figures.
- 3View the Net Tax Payable — your remaining tax liability after TDS credit. If this is ≤ ₹10,000, advance tax is not required.
- 4Check the installment table — four quarterly installments with due dates and amounts are automatically calculated.
- 5Pay each installment using Challan 280 on incometax.gov.in under "Advance Tax (100)" before the respective due date.
How Advance Tax Installments are Calculated
Each installment is calculated as the cumulative percentage of net tax payable (total tax minus TDS), minus any installments already paid in previous quarters:
Net Tax Payable = Total Tax Liability − TDS Credit
Installment = (Net Payable × Cumulative %) − Previous Installments Paid
Note: Advance tax is not required if net payable ≤ ₹10,000 (Section 208)
Senior citizens with no business income are exempt from advance tax
| Installment | Due Date | Cumulative % of Annual Tax |
|---|---|---|
| Q1 (First Installment) | 15 June 2024 | 15% |
| Q2 (Second Installment) | 15 September 2024 | 45% |
| Q3 (Third Installment) | 15 December 2024 | 75% |
| Q4 (Final Installment) | 15 March 2025 | 100% |
Section 234B — Default in Advance Tax
If advance tax paid is less than 90% of total tax due, interest at 1% per month applies from April 1 of the assessment year until the date of filing ITR.
Section 234C — Deferment of Installments
If any installment is short of the required cumulative percentage, interest at 1% per month applies on the shortfall for 3 months (1 month for March installment).
Worked Example
Freelancer with ₹1,50,000 total tax liability and ₹30,000 TDS deducted by clients
Net Payable = ₹1,50,000 − ₹30,000 = ₹1,20,000
| Due Date | Cumulative | Cumulative Due | Pay This Quarter |
|---|---|---|---|
| 15 June 2024 | 15% | ₹18,000 | ₹18,000 |
| 15 September 2024 | 45% | ₹54,000 | ₹36,000 |
| 15 December 2024 | 75% | ₹90,000 | ₹36,000 |
| 15 March 2025 | 100% | ₹1,20,000 | ₹30,000 |
| Total Advance Tax | ₹1,20,000 | ||
The freelancer pays a total of ₹1,20,000 as advance tax across 4 installments. The ₹30,000 TDS from clients is credited and reduces the total amount paid.
Common Advance Tax Mistakes to Avoid
Missing the 15 June installment
Many taxpayers miss the first advance tax installment on 15 June (15% of annual tax). Interest under Section 234C at 1% per month applies on the shortfall for 3 months. Mark the date in your calendar at the start of the financial year.
Not accounting for capital gains
Investors who sell equity, property, or mutual fund units often forget to include capital gains in their advance tax estimate. This leads to large shortfalls and interest penalties. Update your estimate as and when significant gains are realised.
Ignoring TDS when estimating advance tax
Your net advance tax payable is total tax minus TDS credit. Many taxpayers calculate advance tax on total tax without subtracting TDS, resulting in overpayment. Check your Form 26AS regularly to track TDS deducted by employers and clients.
Paying through wrong challan or head
Advance tax must be paid using Challan 280 under "Advance Tax (100)". Paying under the wrong head (such as self-assessment tax 300) or wrong assessment year creates mismatch in records. Always verify the challan details before submission.
Frequently Asked Questions
Q: What is advance tax and who needs to pay it?
Advance tax is income tax paid in installments during the financial year itself, rather than as a lump sum at the end. It is required under Section 208 of the Income Tax Act for any taxpayer whose estimated tax liability for the year exceeds ₹10,000 after deducting TDS. This includes salaried employees with additional income, freelancers, business owners, and investors with capital gains or dividend income.
Q: What is the advance tax schedule for FY 2024-25?
Advance tax for FY 2024-25 (Assessment Year 2025-26) must be paid in four installments: 15% by 15 June 2024, 45% by 15 September 2024, 75% by 15 December 2024, and 100% by 15 March 2025. Each installment amount is cumulative — so the September installment covers 45% total, of which 15% was already paid in June.
Q: Is advance tax applicable to senior citizens?
No. Resident senior citizens (aged 60 years or above) who do not have income from business or profession are exempt from paying advance tax. They can pay the full tax liability as self-assessment tax before or at the time of filing their ITR. However, senior citizens with business income must pay advance tax.
Q: What interest is charged for not paying advance tax?
Two interest provisions apply: Section 234B imposes 1% per month (or part thereof) on the amount of tax not paid as advance tax, from April 1 of the assessment year until the date of filing ITR. Section 234C imposes 1% per month on the shortfall in each installment — 15% by June, 45% by September, 75% by December, and 100% by March.
Q: How is advance tax calculated for salaried employees?
For salaried employees, TDS deducted by the employer usually covers most or all of the tax liability. If your salary TDS is sufficient, you may not need to pay advance tax. However, if you have additional income — like rental income, freelance income, interest, or capital gains — you need to estimate the tax on those and pay advance tax on the excess over TDS.
Q: How do I pay advance tax online?
Pay advance tax online at incometax.gov.in or tin.tin.nsdl.com using Challan 280. Select "Advance Tax (100)" as the type of payment, enter your PAN, assessment year (2025-26 for FY 2024-25), and pay via net banking, UPI, debit card, or RTGS. Keep the Challan Identification Number (CIN) for your records.
Q: What if I overestimate and pay more advance tax than required?
Excess advance tax paid is treated as a refund when you file your ITR. The Income Tax department processes refunds and credits them to your bank account, typically within a few months of ITR filing. You can track refund status on the IT portal. No interest is payable on excess advance tax paid.
Q: What is the advance tax rule for capital gains?
Capital gains are difficult to predict in advance. A special provision (Section 234C proviso) states that if capital gains arise after the due dates of installments, the full advance tax on such gains can be paid in the remaining installments. For example, if you sell shares in November, you can pay the full capital gains tax in the December and March installments without interest for the earlier installments.
Q: How do freelancers and consultants calculate advance tax?
Freelancers should estimate their total income for the year, apply applicable deductions (80C, 80D, etc.), calculate tax at slab rates, subtract TDS already deducted by clients (Form 26AS), and pay the balance as advance tax per the schedule. Since freelance income can be irregular, revise the estimate each quarter based on actual income received.
Q: What is the difference between advance tax and self-assessment tax?
Advance tax is paid during the financial year in installments before the year ends. Self-assessment tax (SAT) is any remaining tax paid after the year ends (April onwards) at the time of filing ITR, after accounting for advance tax already paid and TDS credit. SAT is paid using Challan 280 under "Self Assessment Tax (300)" head.
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