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Calculate your quarterly advance tax installments (15%, 45%, 75%, 100%) and estimate Section 234B & 234C penal interest for FY 2026-27.
You have accrued ₹10,063 in penal interest under Sections 234B & 234C due to delayed/underpaid installments. Paying before March 15 stops further interest.
| Quarter | Due Date | Cumulative Target | Paid Amount | Shortfall | Sec 234C Interest |
|---|---|---|---|---|---|
| 1st Installment (15%) (15%) | June 15, 2026 | ₹16,680 | ₹0 | ₹16,680 | ₹500 |
| 2nd Installment (45%) (45%) | September 15, 2026 | ₹50,040 | ₹0 | ₹50,040 | ₹1,501 |
| 3rd Installment (75%) (75%) | December 15, 2026 | ₹83,400 | ₹0 | ₹83,400 | ₹2,502 |
| 4th Installment (100%) (100%) | March 15, 2027 | ₹1.11 L | ₹0 | ₹1.11 L | ₹1,112 |
If an individual taxpayer pays at least 12% in Q1 (instead of 15%) and 36% in Q2 (instead of 45%), no 234C penal interest is levied due to the statutory safe-harbour buffer.
If total advance tax paid before March 31 falls below 90% of assessed tax, Section 234B levies 1% per month on the entire balance starting from April 1 until the ITR filing date.
Under Section 208 of the Income Tax Act, any taxpayer whose estimated net tax liability after TDS/TCS credits is ₹10,000 or more in a financial year is legally required to pay advance tax in quarterly installments. Senior citizens (aged 60+) with no income from business or profession are fully exempt under Section 207.
For individuals, corporate, and regular professionals, advance tax is payable in 4 installments: 15% on or before June 15, 45% on or before September 15, 75% on or before December 15, and 100% on or before March 15. Presumptive tax filers under Section 44AD/44ADA can pay 100% in a single installment by March 15.
Section 234C charges penal interest at 1% per month for deferment/shortfall in individual quarterly installments. Section 234B charges 1% simple interest per month on the shortfall from April 1 of the assessment year if less than 90% of the assessed tax was paid before March 31.
If your employer deducts full TDS covering your total income, you do not need to pay advance tax. However, if you earn additional income from capital gains (stocks/crypto/property), high interest, freelancing, or dividends where remaining tax exceeds ₹10,000, you must pay advance tax to avoid penal interest.
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