1. What is Advance Tax?

Advance tax refers to the system of paying taxes in advance instead of a lump sum payment at year-end. It's typically paid in installments based on estimated income for the fiscal year.

2. How Are Due Dates Calculated?

Advance tax due dates follow a standard quarterly schedule:

These dates are fixed regardless of the fiscal year, with Q4 falling in the following calendar year.

3. Importance of Timely Payments

Details: Timely advance tax payments help avoid penalties and interest charges. They also help with cash flow management for both taxpayers and tax authorities.

4. Using the Calculator

Tips: Enter the fiscal year for which you need to calculate advance tax due dates. The calculator will display all four quarterly due dates for that fiscal year.

5. Frequently Asked Questions (FAQ)

Q1: What happens if I miss an advance tax deadline?
A: Late payments typically incur interest penalties calculated from the due date until the actual payment date.

Q2: Are these dates the same every year?
A: Yes, the advance tax due dates (15th June, September, December, and March) are fixed and don't change from year to year.

Q3: What if the due date falls on a weekend or holiday?
A: Typically, if the due date falls on a weekend or public holiday, the deadline is extended to the next working day.

Q4: Who needs to pay advance tax?
A: Generally, taxpayers whose tax liability exceeds a certain threshold (varies by jurisdiction) are required to pay advance tax installments.

Q5: Can I adjust my advance tax payments during the year?
A: Yes, you can revise your estimated tax liability and adjust subsequent payments if your income projections change significantly.