Question 1

Who needs to pay advance tax?

Accepted Answer

Anyone whose net tax liability (after TDS) exceeds ₹10,000 in a financial year must pay advance tax. This includes freelancers, business owners, and salaried individuals with significant other income (capital gains, rental income, etc.).

Question 2

What are the advance tax due dates for FY 2026-27?

Accepted Answer

For an ordinary taxpayer: 15 June 2026 (15%), 15 September 2026 (45% cumulative), 15 December 2026 (75% cumulative), 15 March 2027 (100%). If you declare income under the presumptive schemes of Section 44AD or 44ADA, these four dates do not apply to you — the whole amount is due in a single instalment by 15 March 2027.

Question 3

I file under Section 44AD or 44ADA. Do I pay four instalments?

Accepted Answer

No. A taxpayer declaring presumptive business income under Section 44AD or presumptive professional income under Section 44ADA pays the entire advance tax in one instalment, on or before 15 March. Section 234C then charges interest for one month only on any shortfall measured at that date. This concession does not extend to Section 44AE, which keeps the ordinary four instalments. Tick the presumptive box in the calculator to see the correct schedule.

Question 4

What is Section 234C interest?

Accepted Answer

If you miss or underpay an instalment, interest runs at 1% per month on the shortfall under Section 234C. The 15 June, 15 September and 15 December instalments attract three months of interest each. The closing 15 March instalment attracts one month, because there is no later instalment date for the interest to run to.

Question 5

What is Section 234B interest?

Accepted Answer

If total advance tax paid is less than 90% of your final tax liability, interest at 1% per month from April 1 to the date of assessment is charged under Section 234B.

Advance Tax Calculator FY 2026-27

Frequently Asked Questions

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Advance Tax Calculator FY 2026-27

Frequently Asked Questions

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