Advance Tax Calculator
Calculate your tax liability for FY 2025-26 (AY 2026-27). Updated with latest budget slabs.
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FY 2025-26 Highlights
- Std Deduction: ₹75,000 (New Regime)
- Tax Free: Income up to ₹7 Lakhs (New)
- Next Due Date: 15th March
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Advance Tax: A Guide for FY 2025-26
Paying taxes as you earn is a fundamental principle of India's income tax system. Known as Advance Tax, this mechanism ensures the government receives a steady flow of income throughout the year rather than a lump sum at the end. For salaried individuals with income from other sources, freelancers, and businesses, calculating the correct advance tax amount and paying it on time is a legal obligation to avoid interest penalties under Section 234B and 234C.
Advance Tax Due Dates
You must pay your tax liability in installments by specific deadlines to avoid interest. For FY 2025-26, the schedule is:
| Deadline | Cumulative Amount Due |
|---|---|
| 15th June 2025 | 15% of total tax |
| 15th September 2025 | 45% of total tax |
| 15th December 2025 | 75% of total tax |
| 15th March 2026 | 100% of total tax |
Old vs New Regime: What Changed?
In the Union Budget of July 2024, the government made significant changes to the New Tax Regime, making it more attractive.
- Standard Deduction: Increased from ₹50,000 to ₹75,000 in the New Regime.
- Slabs Revised: The 5% tax slab now applies from ₹3L to ₹7L, and the 10% slab from ₹7L to ₹10L, offering greater savings.
- Rebate 87A: Taxable income up to ₹7 Lakhs remains tax-free in the New Regime.
Frequently Asked Questions (FAQ)
Who is exempt from Advance Tax?
Senior citizens (aged 60 years or more) who do not have any income from business or profession are exempt from paying advance tax. Additionally, if your total tax liability after TDS is less than ₹10,000, you do not need to pay advance tax.
What happens if I miss a deadline?
If you defer payment of advance tax, simple interest @ 1% per month is levied under Section 234C on the shortfall amount for a period of 3 months (1 month for the last installment).
Is Standard Deduction applicable to Pensioners?
Yes, pensioners are eligible for the standard deduction of ₹50,000 (Old Regime) or ₹75,000 (New Regime FY 2025-26) against their pension income.