How to calculate advance tax liability

Описание: To know more how to calculate advance tax liability, refer to our page https://cleartax.in/s/advance-tax. You need to pay advance tax if your tax liability is Rs 10,000 or more on your estimated income in a financial year. For the purpose of calculating, you should reduce TDS, TCS and MAT credits to arrive at the advance tax liability for a financial year. The advance tax should be paid in 4 instalments of 15% by 15th June, 45% by 15th September, 75% by 15th December and 100% by 15th March. A failure to pay advance tax makes you liable for interest under section 234C and 234B.