Advance Tax Calculations & Compliance Services
Advance Tax is a “Pay-as-you-Earn” concept under the Income Tax Act, where taxpayers are required to pay tax liabilities in installments during the financial year, instead of a lump sum at year-end. Timely and accurate advance tax payments help avoid interest penalties under Sections 234B and 234C.
We assist Individuals, Corporates, Professionals, and Trusts in calculating their advance tax liabilities with precision. Our service involves estimating projected income, applicable deductions, and TDS credits to ensure that you neither underpay nor overpay taxes.
We offer periodic tax projections during the year to adjust for any changes in income patterns, business profits, capital gains, or investment incomes. Whether it’s complex business scenarios, professional incomes, or salaried individuals with multiple income streams, our experts ensure your advance tax payments are optimized and compliant.
Beyond calculations, we assist in preparing challans, making online payments, and maintaining a compliance tracker to ensure you never miss a due date. Our proactive approach helps clients avoid penal interest liabilities and ensures hassle-free year-end tax filing.
Frequently Asked Questions (FAQs)
Any individual, firm, or company whose estimated tax liability for the financial year exceeds ₹10,000 after TDS credits must pay Advance Tax in installments.
For individuals and businesses, installments are due on 15th June (15%), 15th September (45%), 15th December (75%), and 15th March (100%).
TDS is tax deducted at source by the payer, whereas Advance Tax is self-assessed and paid directly by the taxpayer on their income exceeding TDS credits.
Non-payment or short payment attracts penal interest under Sections 234B and 234C, which increases overall tax liabilities at the time of assessment.
Income Tax
CA. Dhiraj Jain
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