Alert: Significant advance tax shortfall
234C interest has reached ₹20,200. It continues to accumulate until the balance is paid via Challan 280.
•Advance tax can be paid online at any time via Challan 280 on incometax.gov.in
•Capital gains can be paid in the quarter they arise; upfront estimation is not required
•234B interest (1% per month) also applies if 90%+ of tax is not paid by Mar 31
•ITR filed after the due date attracts an additional late fee of ₹5,000 u/s 234F
Net Tax Liability
234C Interest: ₹20,200
Advance tax is the income tax paid in instalments during the financial year instead of a lump sum at the end. If your total tax liability (after TDS) exceeds ₹10,000 in a financial year, you are required to pay advance tax.
Normal taxpayers must pay in 4 quarterly instalments: 15% by Jun 15, 45% by Sep 15, 75% by Dec 15, and 100% by Mar 15.
Presumptive taxpayers (Section 44AD/44ADA) get a single deadline: 100% by March 15.
If you miss or underpay any instalment, the Income Tax Department charges 1% simple interest per month on the shortfall amount. This is calculated from the due date of the instalment to the date of actual payment (or next instalment date).
Pay online using Challan 280on the Income Tax e-filing portal. Select "Advance Tax (100)" as the type of payment. Keep the BSR code and challan serial number for ITR filing.
Set quarterly reminders for Jun 15, Sep 15, Dec 15, and Mar 15; missing even one deadline triggers 234C interest.
Related calculators