e309 Calculator / Advance tax calculator / How much advance tax is due by 15 December on a ₹4 lakh liability?

How much advance tax is due by 15 December on a ₹4 lakh liability?

Based on these numbers, advance tax due is about ₹60,000 by 15 June, ₹1,80,000 cumulative by 15 September, ₹3,00,000 cumulative by 15 December, and ₹4,00,000 cumulative by 15 March.

What is advance tax?

If your total tax liability for the year exceeds ₹10,000, you must pay advance tax in instalments: 15% by 15 June, 45% (cumulative) by 15 September, 75% (cumulative) by 15 December, and 100% by 15 March, to avoid interest under Sections 234B and 234C.

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