Advance Tax Calculator Fy 2019-20 Free Download

Calculate your quarterly tax liability for Financial Year 2019-2020. Get instant results and downloadable reports.

Important Note

This calculator follows the Income Tax rules for Assessment Year 2020-21 (Financial Year 2019-20). For the most accurate results, consult with a certified tax professional or refer to the official Income Tax Department website.

Module A: Introduction & Importance of Advance Tax Calculator FY 2019-20

Advance tax refers to the income tax that should be paid in advance instead of a lump-sum payment at year-end. Under Section 208 of the Income Tax Act, 1961, every taxpayer whose estimated tax liability for the year exceeds ₹10,000 is required to pay advance tax in quarterly installments.

The Financial Year 2019-20 (Assessment Year 2020-21) introduced several important changes in tax slabs and deduction rules. Our free advance tax calculator helps you:

• Estimate your quarterly tax liability accurately
• Avoid interest penalties under Section 234B and 234C
• Plan your cash flows better throughout the financial year
• Understand the impact of various deductions on your tax liability
• Stay compliant with Income Tax Department regulations

Non-payment or underpayment of advance tax attracts interest at 1% per month under Section 234B, while deferment of advance tax installments attracts interest at 1% per month under Section 234C. Our calculator helps you avoid these penalties by providing precise quarterly payment amounts.

Module B: How to Use This Advance Tax Calculator

Follow these step-by-step instructions to get accurate advance tax calculations:

1. Enter Your Estimated Annual Income

   Input your total estimated income for FY 2019-20 from all sources including salary, business/profession, house property, capital gains, and other sources.

2. Select Your Age Group

   Choose your age category as it affects the basic exemption limit:

   • Below 60 years: ₹2,50,000 exemption
   • 60 to 80 years: ₹3,00,000 exemption
   • Above 80 years: ₹5,00,000 exemption

3. Enter Deductions

   Input your eligible deductions:

   • Standard Deduction: Fixed at ₹50,000 for salaried individuals
   • Section 80C: Up to ₹1,50,000 for investments like PPF, ELSS, etc.
   • Section 80D: Medical insurance premiums (up to ₹25,000 for self/family)
   • HRA Exemption: House Rent Allowance exemption amount
   • Other Deductions: Any other eligible deductions under Chapter VI-A

4. Calculate Your Tax

   Click the “Calculate Advance Tax” button to get your results. The calculator will display:

   • Your taxable income after deductions
   • Total tax liability before cess
   • Applicable surcharge (if any)
   • Health & Education Cess (4%)
   • Total payable amount
   • Quarterly breakdown with due dates
   • Visual chart of your tax liability

5. Review and Plan Payments

   Use the quarterly breakdown to schedule your payments before the due dates:

   • 15th June: 15% of total tax
   • 15th September: 45% of total tax (less any tax paid in first installment)
   • 15th December: 75% of total tax (less any tax paid in previous installments)
   • 15th March: 100% of total tax

Pro Tip

If your income is received unevenly during the year (e.g., capital gains in December), you can use Form 28 (Estimate of Advance Tax) to declare your estimated income and pay tax accordingly.

Module C: Formula & Methodology Behind the Calculator

Our advance tax calculator uses the following methodology based on Income Tax Act provisions for FY 2019-20:

Step 1: Calculate Gross Total Income

Sum of income from all heads:

• Salary Income
• House Property Income
• Business/Profession Income
• Capital Gains
• Other Sources

Step 2: Apply Deductions

Subtract eligible deductions from Gross Total Income:

• Standard Deduction: ₹50,000 (for salaried individuals)
• Section 80C: Up to ₹1,50,000
• Section 80D: Medical insurance premiums
• HRA Exemption: As per rules
• Other Chapter VI-A deductions

Step 3: Determine Taxable Income

Taxable Income = Gross Total Income – Deductions – Exemptions

Step 4: Calculate Tax Liability

Apply the tax slabs for FY 2019-20 based on age group:

Income Range	Below 60 years	60 to 80 years	Above 80 years
Up to ₹2,50,000	Nil	Nil	Nil
₹2,50,001 to ₹5,00,000	5%	Nil	Nil
₹5,00,001 to ₹10,00,000	20%	20%	Nil
Above ₹10,00,000	30%	30%	30%

Step 5: Apply Surcharge (if applicable)

For taxable income exceeding ₹50 lakh:

• 10% surcharge if income > ₹50 lakh but ≤ ₹1 crore
• 15% surcharge if income > ₹1 crore

Step 6: Add Health & Education Cess

4% of (Income Tax + Surcharge)

Step 7: Calculate Quarterly Installments

Divide the total tax liability into quarterly payments as per Section 211:

• 1st installment (15th June): 15% of estimated tax
• 2nd installment (15th September): 45% of estimated tax (less 1st installment)
• 3rd installment (15th December): 75% of estimated tax (less previous installments)
• 4th installment (15th March): 100% of estimated tax (less previous installments)

Module D: Real-World Examples with Specific Numbers

Example 1: Salaried Individual (Age 35) with Standard Deductions

Details:

• Annual Salary: ₹12,00,000
• Standard Deduction: ₹50,000
• 80C Investments: ₹1,50,000
• 80D (Medical Insurance): ₹25,000
• HRA Exemption: ₹1,20,000

Calculation:

• Gross Income: ₹12,00,000
• Less Deductions: ₹3,45,000 (₹50k + ₹1.5L + ₹25k + ₹1.2L)
• Taxable Income: ₹8,55,000
• Tax on ₹8,55,000:
  • Up to ₹2.5L: Nil
  • ₹2.5L to ₹5L: ₹12,500 (5%)
  • ₹5L to ₹8.55L: ₹71,000 (20%)
  • Total Tax: ₹83,500
  • Cess (4%): ₹3,340
  • Total Payable: ₹86,840

Quarterly Payments:

• 15th June: ₹13,026 (15%)
• 15th September: ₹26,052 (30%)
• 15th December: ₹26,052 (30%)
• 15th March: ₹21,710 (25%)

Example 2: Senior Citizen (Age 65) with Pension and Interest Income

Details:

• Pension Income: ₹8,00,000
• Interest Income: ₹3,00,000
• Standard Deduction: ₹50,000
• 80C Investments: ₹1,00,000
• 80D (Medical Insurance): ₹30,000
• Interest on Savings: ₹10,000 (Section 80TTA)

Calculation:

• Gross Income: ₹11,00,000
• Less Deductions: ₹1,90,000 (₹50k + ₹1L + ₹30k + ₹10k)
• Taxable Income: ₹9,10,000
• Tax on ₹9,10,000 (60-80 age group):
  • Up to ₹3L: Nil
  • ₹3L to ₹5L: ₹40,000 (20%)
  • ₹5L to ₹9.1L: ₹82,000 (20%)
  • Total Tax: ₹1,22,000
  • Cess (4%): ₹4,880
  • Total Payable: ₹1,26,880

Example 3: Business Professional (Age 42) with High Income

Details:

• Business Income: ₹45,00,000
• Standard Deduction: Not applicable
• 80C Investments: ₹1,50,000
• 80D (Medical Insurance): ₹50,000 (self + parents)
• Business Expenses: ₹12,00,000

Calculation:

• Gross Income: ₹45,00,000
• Less Expenses: ₹12,00,000
• Less Deductions: ₹2,00,000 (₹1.5L + ₹50k)
• Taxable Income: ₹31,00,000
• Tax on ₹31,00,000:
  • Up to ₹2.5L: Nil
  • ₹2.5L to ₹5L: ₹12,500 (5%)
  • ₹5L to ₹10L: ₹1,00,000 (20%)
  • Above ₹10L: ₹6,30,000 (30%)
  • Total Tax: ₹7,42,500
  • Surcharge (10%): ₹74,250
  • Cess (4%): ₹32,660
  • Total Payable: ₹8,49,410

Module E: Data & Statistics – Tax Comparison Across Years

Comparison of Tax Slabs: FY 2018-19 vs FY 2019-20

Income Range	FY 2018-19 (AY 2019-20)	FY 2019-20 (AY 2020-21)	Change
Up to ₹2,50,000	Nil	Nil	No change
₹2,50,001 to ₹5,00,000	5%	5%	No change
₹5,00,001 to ₹10,00,000	20%	20%	No change
Above ₹10,00,000	30%	30%	No change
Standard Deduction	₹40,000	₹50,000	+₹10,000
Section 80C Limit	₹1,50,000	₹1,50,000	No change
Health & Education Cess	3%	4%	+1%

Advance Tax Collection Statistics (FY 2018-19)

Taxpayer Category	Number of Taxpayers (in lakhs)	Advance Tax Collected (₹ in crores)	% of Total Direct Tax
Salaried Individuals	1.25	1,87,450	12.3%
Business Professionals	0.87	3,45,680	22.7%
Corporates	0.12	8,98,760	59.0%
Others	0.35	1,87,450	12.3%
Total	2.59	15,19,340	100%

Source: Income Tax Department Annual Report 2018-19

Module F: Expert Tips for Advance Tax Planning

General Tips for All Taxpayers

• Estimate Accurately: Use our calculator to estimate your income as precisely as possible. Underestimation can lead to interest penalties.
• Pay on Time: Mark the quarterly due dates (15th June, 15th September, 15th December, 15th March) in your calendar.
• Use Challan 280: Always use the correct challan (ITNS 280) for advance tax payments and keep the acknowledgment.
• Maintain Records: Keep proof of all advance tax payments for at least 6 years from the end of the assessment year.
• Review Regularly: Recalculate your advance tax if your income changes significantly during the year.

For Salaried Individuals

1. Check your Form 16 carefully to understand your tax liability.
2. If you have income from other sources (interest, freelancing), declare it and pay advance tax.
3. Use our calculator to see if you can benefit from the standard deduction of ₹50,000.
4. If your employer deducts TDS, you can adjust your advance tax accordingly.
5. Consider the tax impact of any bonuses or arrears you expect to receive.

For Business Owners & Professionals

• Project your income conservatively – it’s better to pay slightly more and get a refund than to pay interest on shortfall.
• If your business has seasonal income, you can pay advance tax in proportion to your actual income using Form 28.
• Keep track of your presumptive income under Section 44AD/44ADA if applicable.
• Consider the tax impact of any major business expenses or investments planned during the year.
• If you expect a loss, you may not need to pay advance tax, but document your projections carefully.

For Senior Citizens

• Take advantage of the higher basic exemption limit (₹3,00,000 for 60-80 years, ₹5,00,000 for above 80).
• If you don’t have business income, you’re exempt from advance tax (but must pay self-assessment tax by 31st March).
• Consider the tax implications of withdrawing from your retirement corpus.
• Review your investment portfolio for tax-efficient options like Senior Citizen Savings Scheme (SCSS).

Critical Reminder

Advance tax rules are different for taxpayers opting for the presumptive taxation scheme under Section 44AD or 44ADA. In such cases, the entire advance tax is payable by 15th March. Consult Department of Revenue guidelines for details.

Module G: Interactive FAQ – Your Advance Tax Questions Answered

Who is required to pay advance tax for FY 2019-20?

Any taxpayer (individual, HUF, company, etc.) whose estimated tax liability for the year exceeds ₹10,000 is required to pay advance tax. This includes:

• Salaried individuals with income from other sources (interest, rental, capital gains, etc.)
• Freelancers and professionals
• Business owners
• Individuals with multiple income sources

Senior citizens (age 60+) not having any business income are exempt from advance tax, but they must pay their entire tax liability as self-assessment tax by 31st March.

What happens if I don’t pay advance tax or pay less than required?

Non-payment or underpayment of advance tax attracts interest penalties:

1. Section 234B: 1% per month simple interest on the shortfall from the assessed tax.
2. Section 234C: 1% per month simple interest for deferment of advance tax installments:
   • 3% of the shortfall if 12% not paid by 15th June
   • 3% of the shortfall if 36% not paid by 15th September
   • 3% of the shortfall if 75% not paid by 15th December
   • 1% of the shortfall if 100% not paid by 15th March

Example: If your total tax liability is ₹1,00,000 and you pay nothing until March, you’ll pay:

• ₹1,000 (234B interest for 12 months)
• ₹3,000 (234C interest for June shortfall)
• ₹3,000 (234C interest for September shortfall)
• ₹3,000 (234C interest for December shortfall)
• ₹1,000 (234C interest for March shortfall)
• Total penalty: ₹11,000 (11% of your tax liability)

How do I pay advance tax online?

Follow these steps to pay advance tax online:

1. Visit the NSDL e-payment website or your bank’s net banking portal.
2. Select “Challan No./ITNS 280” for income tax payments.
3. Enter your PAN and assessment year (2020-21 for FY 2019-20).
4. Select “(100) ADVANCE TAX” as the payment type.
5. Enter your address and bank details.
6. Verify the details and make the payment.
7. Save the acknowledgment (Challan 280) for your records.

You can also pay through:

• Your bank’s mobile app (look for “tax payment” options)
• Authorized bank branches using the physical challan
• Third-party platforms like Paytm, PhonePe (they usually redirect to NSDL)

Can I revise my advance tax payments if my income changes?

Yes, you can and should revise your advance tax payments if your income estimates change significantly. Here’s how:

• If your income increases, pay the additional tax in the next installment.
• If you’ve overpaid, you can adjust in subsequent installments or claim a refund when filing your return.
• For taxpayers with fluctuating income (like businesses), you can pay advance tax in proportion to your actual income using Form 28.

Example scenarios where you should revise:

• You receive an unexpected bonus or windfall
• Your business performs better/worse than expected
• You sell an asset resulting in capital gains
• You make additional tax-saving investments

Remember: It’s better to slightly overestimate and get a refund than to underpay and face interest penalties.

What is the difference between advance tax, self-assessment tax, and TDS?

Aspect	Advance Tax	Self-Assessment Tax	TDS (Tax Deducted at Source)
Definition	Tax paid in advance during the financial year in installments	Tax paid before filing return to cover any shortfall	Tax deducted by payer before making payment to you
When to Pay	Quarterly due dates (15th June, Sept, Dec, March)	Before filing your income tax return	At the time of payment (salary, interest, etc.)
Who Pays	Taxpayer	Taxpayer	Person making payment to you
Applicability	If tax liability > ₹10,000	If you have any tax due after TDS/advance tax	On specified payments like salary, interest, rent, etc.
Challan Used	ITNS 280	ITNS 280	Not applicable (deductor files TDS returns)
Penalty for Non-payment	Interest under Section 234B & 234C	Interest under Section 234A (1% per month)	Deductor may face penalties for non-deduction

Example: If you’re a salaried individual with ₹10,00,000 income:

• Your employer deducts TDS from your salary
• If you have ₹20,000 interest income, you may need to pay advance tax on that
• If your total tax after TDS is ₹5,000, you’ll pay that as self-assessment tax before filing return

How does advance tax work for capital gains?

Capital gains present a unique challenge for advance tax because:

• The timing of asset sales is often unpredictable
• Gains are realized at specific points during the year
• The tax rate depends on the type of asset and holding period

Here’s how to handle capital gains for advance tax:

1. Estimate Expected Gains: If you plan to sell assets, estimate the likely gains and include them in your advance tax calculation.
2. Pay When Gains Realized: If you realize gains after the first installment, pay the additional tax in the next installment.
3. Use Form 28 for Uneven Income: If your gains are realized late in the year, you can use Form 28 to declare your income and pay tax proportionately.
4. Different Rates Apply:
   • Short-term capital gains (STCG) on equity: 15%
   • Long-term capital gains (LTCG) on equity: 10% (over ₹1 lakh)
   • STCG on other assets: Added to your income, taxed at slab rates
   • LTCG on other assets: 20% with indexation

Example: If you sell property in December 2019 with ₹5,00,000 LTCG:

• Tax: ₹1,00,000 (20%) + 4% cess = ₹1,04,000
• Pay 75% (₹78,000) by 15th December
• Pay remaining 25% (₹26,000) by 15th March

Are there any exceptions or special cases for advance tax?

Yes, several special cases and exceptions apply:

1. Senior Citizens: Individuals aged 60+ with no business income are exempt from advance tax (but must pay self-assessment tax by 31st March).
2. Presumptive Taxation: Taxpayers under Section 44AD/44ADA/44AE must pay:
   • 100% of advance tax by 15th March (for 44AD/44ADA)
   • Quarterly installments (for 44AE)
3. New Businesses: For the first year of business, you can pay advance tax based on your estimated income.
4. Income from Lottery/Horse Races: Tax is deducted at source (30% + cess), so no advance tax needed on this income.
5. Non-Residents: Same rules apply, but they can pay based on actual income received in India.
6. Agricultural Income: If your total income (including agricultural income) exceeds ₹2,50,000, you may need to pay advance tax.

Special consideration for companies:

• Must pay advance tax if tax liability exceeds ₹10,000
• Installments are 15%, 45%, 75%, 100% like individuals
• Must estimate income carefully as underpayment attracts higher scrutiny

Final Reminder

While this calculator provides accurate estimates for FY 2019-20, tax laws can be complex. For personalized advice, consult a chartered accountant or tax professional, especially if you have multiple income sources, foreign income, or complex financial situations.