How is advance tax calculated and paid?

Advance tax is to be calculated on the basis of expected tax liability of the year.

Advance tax is to be paid in instalments as given below:

a) In case of all the assessees (other than the eligible assessees as referred to in section 44AD) :

i) Up to 15 per cent – On or before 15th June

ii) Up to 45 per cent – On or before 15th September

iii) Up to 75 per cent – On or before 15th December

iv) Up to 100 per cent –On or before 15th March

Note: Any advance tax paid on or before 31st day of March shall also be treated as paid during the same financial year.

[Substituted by the Finance Act, 2016 w.e.f. 1-6-2016]