If your tax for the year, after TDS, is ₹10,000 or more, it has to be paid in instalments during the year, not all at once when you file. Miss a date and interest runs at 1% a month. This free Excel sheet splits your tax into the four instalments for FY 2026-27 and works out the interest on anything short.
⬇ Download: Advance tax calculator FY 2026-27 in Excel (.xlsx, free)The four dates
- 15 June 2026: 15% of the year's tax.
- 15 September 2026: 45% in total.
- 15 December 2026: 75% in total.
- 15 March 2027: 100%. Under presumptive income (44AD/44ADA) the whole amount is due by 15 March in one go.
- A resident aged 60 or more with no business or professional income doesn't have to pay advance tax.
How the interest works
Two kinds of interest, both 1% a month. 234C is for paying an instalment late or short: three months for each of the first three, one month for March. There is no 234C for June or September if you paid at least 12% and 36% by then. 234B applies if less than 90% of the tax was paid by 31 March: 1% a month on the unpaid tax from April until you pay it, usually at filing.
Example: tax of ₹2,00,000 for the year and nothing paid until you file in July. 234C comes to ₹10,100 (₹900 + ₹2,700 + ₹4,500 + ₹2,000), and 234B to ₹8,000 for four months. ₹18,100 in interest, all avoidable. Pay 75% by 15 December and most of it goes away.
Prefer it online? Advance tax calculatorRead: the 15 December instalmentFrequently asked questions
- How do I calculate advance tax in Excel?
- Work out the year's tax after TDS, then multiply by 15%, 45%, 75% and 100% for the four dates. Interest is 1% a month on any shortfall, rounded down to ₹100. The free sheet on this page has it set up.
- Who has to pay advance tax?
- Anyone whose tax for the year, after TDS and TCS, is ₹10,000 or more. Salaried people with only salary income usually don't, because TDS covers it; interest, rent, capital gains or freelance income can change that.
- What is the interest for missing advance tax?
- 1% a month under 234C for late or short instalments, and 1% a month under 234B if less than 90% was paid by 31 March.
- When is the next advance tax date?
- 15 December 2026, by when 75% of the year's tax should be paid. The last instalment is 15 March 2027.