Calculation Summary (New Regime FY 2025-26):
Standard Deduction (Salaried): ₹75,000
Taxable Salary Income: ₹
Total Estimated Taxable Income: ₹
Calculated Gross Tax on Total Taxable Income (incl. Cess, before TDS adjustment): ₹
Calculated Gross Tax on Taxable Salary Income (incl. Cess, before TDS adjustment): ₹
Estimated Gross Tax on Other Income (after Cess, before TDS on other income): ₹
Less: Estimated TDS Deducted on Other Income: ₹
Net Estimated Tax on Other Income (for Advance Tax Check): ₹
Advance Tax Quarterly Payment Schedule (Individual):
| Due Date (On or before) |
Cumulative Percentage |
Cumulative Amount Due (₹) |
Non-Cumulative Amount Due (₹) |
| June 15, 2025 |
15% |
|
|
| September 15, 2025 |
45% |
|
|
| December 15, 2025 |
75% |
|
|
| March 15, 2026 |
100% |
|
|
Potential Penal Interest (Assuming NO Advance Tax Paid & Tax Paid on July 31, 2026)
Based on a Net Estimated Tax on Other Income of ₹, and assuming **no advance tax was paid** during the year and the full tax is paid as **self-assessment tax on July 31, 2026** (the general ITR due date), here’s an illustrative calculation of potential interest:
- Interest U/S 234C (for deferment of installments):
- For June 15 shortfall: ₹ (1% of 15% for 3 months)
- For Sep 15 shortfall: ₹ (1% of (45%-15%) for 3 months)
- For Dec 15 shortfall: ₹ (1% of (75%-45%) for 3 months)
- For Mar 15 shortfall: ₹ (1% of (100%-75%) for 1 month)
Total Illustrative 234C Interest: ₹
- Interest U/S 234B (for overall shortfall):
- Calculated on ₹ (Net Estimated Tax on Other Income – 90% threshold for 234B, if applicable, otherwise full amount).
- For 4 months (April 1, 2026 – July 31, 2026) @ 1% per month.
- Total Illustrative 234B Interest: ₹
Grand Total Illustrative Penal Interest (234B + 234C): ₹
**Note:** This is a simplified calculation. Actual 234C interest can vary based on actual income accrual throughout the year. Penal interest calculation can be complex; this tool provides an estimate.