Advance Tax Calculator
( As amended by Finance (No.2) Act, 2019 for AY 2020-2021)
As the name suggests, Advance tax refers to paying a part of income taxes before the end of the financial year. As per Sec.208 of Income Tax Act 1961, Advance tax is payable if income tax liability is more than Rs.10,000 in a financial year. This Calculator enables estimation of Advance Tax instalments on the basis of taxable income of a company.