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Advance tax | How to make Advance Tax Payment? | Certicom

How to Calculate & Pay Advance Tax?

Advance tax means a tax on income should be paid in advance instead of a lump-sum payment at the end of the year. It is also known as pay as you earn a tax. These payments should be made in instalments according to the deadlines given by the income tax department.

Who should pay Advance Tax?


Sales, freelancers and businesses.- If your tax liability is R 10,000 or more, you must pay a tax beforehand in the financial year. With an advanced tax applied to advanced taxes, wages, freelancers and companies. Older people, over 60 years of age or older, do not have to pay taxes beforehand.
Suspected businesses – When taxpayers choose a predefined scheme, business income is ₹ 2% less than 2% of turnover, except for FY2017-18 tax exemption.
The alleged income of companies for FY 2016-17 – The taxpayers who opt for the budget project must pay the full amount of their initial taxes on or before March 15. If they have to pay their fiscal payments on March 31, it’s okay. Start FY 2016-17. Companies with a turnover of Rs 2 crores or less can choose this scheme.
Presumptive income for Professionals for FY 2016-17–this scheme includes doctors, lawyers, architects, etc. They are aimed at professionals like it. If they receive 50 lakhs or less (article 44AD). The taxpayers must pay a three-monthly fee.
Due Dates for payment of Advance Tax
FY 2017-18 & FY 2016-17 For both individual and corporate taxpayers

Due DateAdvance Tax Payable
On or before 15tpayable on15% of advance tax
On or before 15th September45% of advance tax
On or before 15th December75% of advance tax
On or before 15th March100% of advance tax
For taxpayers who have opted for the Tax Provision Scheme – Business Income
Due DateAdvance Tax Payable
by 31st March100% of advance tax
Taxpayers choose to set a tax on the taxable property, taxation or leasing business
Due DateAdvance Tax Payable
On or before 15tpayable on15% of advance tax
On or before 15th September45% of advance tax
On or before 15th December75% of advance tax
On or before 15th March100% of advance tax
  For FY 2014-15 and FY 2015-16  
Due DateFor corporate taxpayersFor individual taxpayers
On or before 15th June15% of advance tax–
On or before 15th September45% of advance tax30% of advance tax
On or before 15th December75% of advance tax60% of advance tax
On or before 15th March100% of advance tax100% of advance tax
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