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Discussion > Income Tax >

Advance Tax Calculator

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CHARTERED ACCOUNTANT

[ Scorecard : 16207]
Posted On 26 December 2010 at 11:09 Report Abuse

Advance Tax Calculator for Assessment Year 2011-12 ( Financial Year 2010-11 )
Advance Tax Rates and Due Dates for Individual Assessees

Advance Tax Rates and Due Dates for Individual Tax Payers

  • No advance tax is payable if the total tax liability after reducing the tax deducted at source is less than Rs. 10,000/-.
  • If Advance Tax is not paid in full for instalments falling due on 15th September and 15th December, interest at the rate of 1% on the short amount for 3 months is to be paid.
  • If Advance Tax is not paid in full for instalments falling due on 15th March, interest at the rate of 1% on the short amount for 1 month is to be paid. If you delay payment of the last instalment in March by even a day, you will have to pay interest on the entire instalment amount.
  • If you do not pay advance tax at all or if the aggregate paid by March 31 is less than 90 per cent of the total tax payable, you will have to pay an interest of 1 per cent per month on the deficit amount from April 1 of the following year till the date you file your return.

Applicable to Individual Male, Female and Senior Citizens and Hindu Undivided Families (HUFs)

Due Date Amount of Tax
15th September Atleast 30% of Tax on total income for the year.
15th December Atleast 60% of Tax on total income for the year less advance tax already paid.
15th March 100% of Tax on total income for the year less advance tax already paid.

Advance Tax Calculator for AY 2011-12 ( FY 2010-11 ) for Individual Tax Payers

Calculate Advance Tax Installment Payable by Individual Male, Female, Senior Citizen, HUF, AOP, BOI & AJP Tax payers.

Select Advance Tax Date
Select Your Status


Important: Please RESET the Calculator after every calculation.
Estimated Income from Salary & Allowances / Pension / Profession for the Year
Estimated Income from House Property
Estimated Income from Capital Gains (Short Term + Long Term)
Estimated Income from Other Sources viz. interest income
Estimated Investments under Sec. 80C, 80CCC & 80CCD
(Max. Rs. 1 lakh) + (Rs. 20,000/- for investment in Infrastructure bonds)
Estimated Investments under Sec. 80D for Health Insurance
(Max. Rs. 20,000/- for Senior Citizens & Rs. 15,000/- for others)
Estimated Investments under Sec. 80D for Health Insurance of parents
(Max. Rs. 20,000/- if parents are Senior Citizen, otherwise Rs. 15,000/-)
Estimated Amount of any other eligible deduction from income
Estimated Income at Special Rate, if any
(Not to be included in Normal Rate Income stated above)
Estimated Income Tax at Special Rate
Advance Tax already paid
Total Taxable Income (at normal rates)
Income Tax at Normal Rates
Total Income Tax
Education Cess
Total Tax liability (Normal Rate + Special Rate)
Income Net of Income Tax Liability
Total Advance Tax Payable upto 15th December (60% of Total Tax Liability)
Balance Advance Tax Payable by 15th December
(Advance Tax Payable - Advance Tax Already Paid)


Total thanks : 15 times

Online classes for CA CS CMA



S And V
CHARTERED ACCOUNTANT

[ Scorecard : 16207]
Posted On 26 December 2010 at 11:10

Advance Tax Calculator for Corporates AY 2011-12
Advance Tax Rates and Due Dates for Corporates

Advance Tax Rates and Due Dates for Corporate Tax Payers

The Advance Tax due dates and Calculator on this page are for Corporate Tax Payers viz. Local Authorities, Cooperatives, Firms, Domestic Companies and Other than Domestic Companies. The Calculator also takes into account Marginal Tax relief available on Surcharge on Total Income Tax liability increasing Rs. 1 crore.

  • No advance tax is payable if the total tax liability after reducing the tax deducted at source is less than Rs. 5000/-.
  • If Advance Tax is not paid in full for instalments falling due on 15th March, 15th September and 15th December , interest at the rate of 1% on the short amount for 3 months is to be paid.
  • If Advance Tax is not paid in full for instalments falling due on 15th March, interest at the rate of 1% on the short amount for 1 month is to be paid. If the payment of the last instalment in March is delayed by even a day, interest is to be paid on the entire instalment amount.
  • If you do not pay advance tax at all or if the aggregate paid by March 31 is less than 90 per cent of the total tax payable, you will have to pay an interest of 1 per cent per month on the deficit amount from April 1 of the following year till the date you file your return.
Due Date Advance Tax Installment Amount
15th June Atleast 15% of Tax on total income for the year.
15th September Atleast 30% of Tax on total income for the year less advance tax already paid..
15th December Atleast 60% of Tax on total income for the year less advance tax already paid.
15th March 100% of Tax on total income for the year less advance tax already paid.

Advance Tax Calculator for Corporate Tax Payers for AY 2011-12 FY 2010-11

This calculator takes into account the Marginal Tax Relief available on Surcharge in case income of companies and firms exceeds Rs. 1 crore

Select Advance Tax Date
Select Your Status


Enter data in only shaded boxes
Please RESET the Calculator after every calculation.
Estimated Net Normal Rate Income
Estimated Special Rate Income (not included in Normal Rate Income)
Estimated Income Tax at Special Rate, if any
Rebate under Section 88E, if any
Advance Tax already paid
Income Tax at Normal Rates
Total Income Tax
Surcharge ( 7.5% of Income Tax if income> Rs. 100,00,000/- )
Education Cess ( 3% of Income Tax + Surcharge )
Total Tax liability
Income Net of Income Tax Liability
Total Advance Tax Payable upto 15th December (60% of Total Tax Liability)
Balance Advance Tax Payable by 15th December
(Advance Tax Payable - Advance Tax Already Paid)


Total thanks : 8 times




S And V
CHARTERED ACCOUNTANT

[ Scorecard : 16207]
Posted On 26 December 2010 at 11:11

Calculator for Interest u /s 234 A, 234 B, 234C

Enter data in only shaded boxes

A.1 Select Your Status
A.2 Due Date for filing of Income Tax Return
A.3 Enter Total Tax Liability for the Assessment Year
A.4 Enter Income Tax paid upto 31st March 2010
A.5 Amount of shortfall in tax payment upto 31st March 2010
A.6 Month of Payment of Shortfall
Calculation of Interest Payable Under Section 234 A
B.1 Number of months for which interest is payable on shortfall amount @ 1% per month
B.2 Interest Payable under Section 234 A
Calculation of Interest Payable Under Section 234 B
C.1 Number of months for which interest is payable on shortfall amount @ 1% per month
C.2 Interest Payable under Section 234 B
Calculation of Interest Payable Under Section 234 C
D.1 Advance Tax Payable upto 15th June 2009 (Atleast 15% of Total Tax Liability)
D.2 Income Tax deductible / collectible at source on income included in D.1 above
D.3 Income Tax paid upto 15th June 2009
D.4 Shortfall in Advance Tax payment
D.5 Interest Payable under Section 234 C
(1% per month for 3 months on shortfall, if Total Tax Liability is more than Rs. 10,000/-)
Calculation of Interest Payable Under Section 234 C
E.1 Advance Tax Payable upto 15th September 2009 (Atleast 30% of Total Tax Liability)
E.2 Income Tax deductible / collectible at source on income included in D.1 above
E.3 Income Tax paid upto 15th September 2009
E.4 Shortfall in Advance Tax payment
E.5 Interest Payable under Section 234 C
(1% per month for 3 months on shortfall, if Total Tax Liability is more than Rs. 10,000/-)
 
F.1 Advance Tax Payable upto 15th December 2009 (Atleast 60% of Total Tax Liability)
F.2 Income Tax deductible / collectible at source on income included in E.1 above
F.3 Income Tax paid upto 15th December 2009
F.4 Shortfall in Advance Tax payment
F.5 Interest Payable under Section 234 C
(1% per month for 3 months on shortfall, if Total Tax Liability is more than Rs. 10,000/-)
 
G.1 Advance Tax Payable upto 15th March 2010 (100% of Total Tax Liability)
G.2 Income Tax deductible / collectible at source on income included in F.1 above
G.3 Income Tax paid upto 15th March 2010
G.4 Shortfall in Advance Tax payment
G.5 Interest Payable under Section 234 C
(1% per month for 3 months on shortfall, if Total Tax Liability is more than Rs. 10,000/-)
 
  Total Interest payable under Section 234 C
  Total Interest payable under Sections 234 A, 234 B and 234 C


Total thanks : 7 times



Ravikant
Accountax

[ Scorecard : 6085]
Posted On 26 December 2010 at 11:34

STILL 1 INSTALMENT LEFT....:/

T H A N X..



Total thanks : 2 times



priyanka
CA Final student

[ Scorecard : 895]
Posted On 26 December 2010 at 11:40

heartful thx 2 u.....



Total thanks : 1 times



Sunshine
Helping All

[ Scorecard : 10481]
Posted On 26 December 2010 at 11:41

very nice didi..keep going



Total thanks : 1 times



Resham
Carpe Diem !!!

[ Scorecard : 6485]
Posted On 26 December 2010 at 12:55

I told you na... Your contribution is really awesome...

Thanks a lot dear...



Total thanks : 1 times



vikash maheshwari
learner

[ Scorecard : 2816]
Posted On 26 December 2010 at 13:46

heartful thnx.............great goin as always.................



Total thanks : 1 times



M. N. JHA
CA-FINAL & M.COM

[ Scorecard : 8144]
Posted On 26 December 2010 at 14:08

Advance t-han-ks for next contribution. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .


Total thanks : 1 times



CMA. CS. Sanjay Gupta
"PROUD TO BE AN INDIAN"

[ Scorecard : 81322]
Posted On 26 December 2010 at 14:14

Fantastic Post Again...........



Total thanks : 1 times


There are 27 Replies to this message








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