How to calculate and generate the Advance Tax Challan

ZenIT || How to Calculate and Generate the Advance Tax Challan

Any person having an estimated tax liability of Rs. 10,000 or more in a year is required to pay tax in advance. Advance tax applies to all the taxpayers, salaried, freelancers, and businesses. Senior citizens, who are 60 years or older, and do not run a business, are exempt from paying advance tax.

The act of paying taxes in advance and in installments is commonly referred to as advance tax payment:
FY 2019-20 & FY 2018-19 for both individual and corporate taxpayers:
Due Date
Advance Tax Payable
On or before 15th June
15% of advance tax
On or before 15th September
45% of advance tax less advance tax already paid
On or before 15th December
75% of advance tax less advance tax already paid
On or before 15th March
100% of advance tax less advance tax already paid

For taxpayers who have opted for Presumptive Taxation Scheme under section 44AD & 44ADA – Business Income
Due Date
Advance Tax Payable
 On or before 15th March
100% of advance tax
To calculate and generate the Advance Tax Challan, please follow the steps provided below:
Step 1:

Open the Income Tax software - Go to Transactions → Advance Tax Calculator option given in the menu bar.

Please check whether correct assessment year is selected on the main window of the software.
For AY-2024-25 Advance Tax Calculation:
1. Salary income has to be entered after standard deduction.
2. Long term capital gain u/s 112A has to be entered in LTCG Proviso after 1 Lac Rs.Exemption.

Step 2:
Select Assessment Year >>Put Income detail >> Click on calculate Tax.


Step 3:

Now Click on Challan Button to prepare Advance Tax Challan.

Step 4:
  1. Select Instalment 
  2. Select Payment Mode
  3. Click on Save and Print Challan

Hope This Helps.
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