Advance Tax Calculator (FY 2026-27): Instalments, Due Dates and Interest
Advance tax is income tax paid in instalments during the financial year itself, instead of one lump sum at filing time. If your total tax liability for FY 2026-27 is Rs 10,000 or more after TDS and TCS, you must pay advance tax in four instalments. The free Advance Tax Calculator works out each instalment, tracks the due dates and estimates interest under sections 234B and 234C if you fall short.
Open the free Advance Tax Calculator ->
How to use this calculator
- Enter your estimated total income for FY 2026-27 and let the tool apply the new regime slabs, or enter your computed tax directly.
- Subtract TDS already deducted and TCS collected so the tool works on the net payable figure.
- The calculator splits the net tax into the four statutory instalments with exact due dates.
- If you missed an instalment, enter what you actually paid and the tool estimates 234B and 234C interest on the shortfall.
Instalment schedule for FY 2026-27
| Instalment | Due date | Cumulative tax payable |
|---|---|---|
| 1st | 15 June 2026 | 15% |
| 2nd | 15 September 2026 | 45% |
| 3rd | 15 December 2026 | 75% |
| 4th | 15 March 2027 | 100% |
Formula and legal provisions
Advance tax applies under section 208 when net tax payable is Rs 10,000 or more. Section 211 sets the instalment percentages above. Two interest provisions punish shortfalls. Section 234B charges 1% per month on the shortfall if advance tax paid is less than 90% of assessed tax. Section 234C charges interest for deferment of individual instalments: 3% of the shortfall for each of the first three quarters and 1% for the last quarter. Senior citizens with no business income are exempt from advance tax under section 207.
Worked example
Ritu is a freelance designer. Her estimated tax for FY 2026-27 is Rs 2,40,000 and clients have deducted Rs 60,000 as TDS. Net advance tax payable: Rs 1,80,000.
| Instalment | Due date | Amount |
|---|---|---|
| 1st (15%) | 15 Jun 2026 | Rs 27,000 |
| 2nd (45% cumulative) | 15 Sep 2026 | Rs 54,000 |
| 3rd (75% cumulative) | 15 Dec 2026 | Rs 54,000 |
| 4th (100%) | 15 Mar 2027 | Rs 45,000 |
If Ritu skips the first instalment entirely, section 234C interest of 3% applies on the Rs 27,000 shortfall for that quarter.
Frequently asked questions
Q: Who must pay advance tax?
A: Anyone whose net tax liability for the year is Rs 10,000 or more, except senior citizens with no business income.
Q: What happens if I miss an instalment?
A: Interest under sections 234B and 234C applies on the shortfall. The calculator estimates both.
Q: Is advance tax applicable under the new regime?
A: Yes. Advance tax applies regardless of whether you opt for the old or new tax regime.
Q: Can salaried employees ignore advance tax?
A: If your employer deducts full TDS on salary and you have no other income, usually yes. With freelance, rental or capital gains income, check your net liability.
Q: What is the last date for FY 2026-27 advance tax?
A: 15 March 2027 for the fourth instalment. Tax paid by 31 March 2027 still counts as advance tax for interest computation.