Overview

Use this API to calculate the advance tax liability of a person under the New Regime.

Problem

Requirements for persons whose tax liability exceeds Rs. 10,000 have to pay advance tax.
Advance Tax has to be calculated using the average TDS rule for slab rate income and accrual basis for special rate income.
Every year government changes guidelines in determining the tax liability of a person.
This makes it difficult for HRMS platforms in managing tax computations, leading to erroneous tax liability calculations.
Advance Tax liability also changes depending on the chosen tax regime.

Solution

API to calculate Advance Tax Liability as per the New Tax Regime.
API gets constantly updated as per the latest tax guidelines

Endpoint

HTTP Method	Endpoint
POST	/calculators/income-tax/advance-tax/new

Request

Follow the below guidelines to pass income details to calculate Advance Tax per New Regime.

Body

Param	Type	Description	Example
financial_year	`string`	The financial year for which Advance Tax has to be calculated.	FY 2020-21
pan	`string`	PAN number of the taxpayer.	ASDPF1234G
filing_category	`string`	Category of the type of filing	General
residential_status	`string`	Resident, Not Ordinarily Resident or Non-resident.	Non Resident
basic_salary	`num`	Basic Salary of Taxpayer.	1500000
hra_received	`num`	Home Rent Allowance	null
rent_paid	`num`	Actual Rent Paid	null
other_allowances	`num`	Other Taxable Allowances given to the Taxpayer.	null
address	`json object`	Address of the Taxpayer
interest_paid_on_let_out_hp_loan	`num`	Interest on Borrowed Capital on Home Loan. (Rented out)	null
rent_received	`num`	Rent received from home rental.	null
property_tax_paid	`num`	Municipal Tax paid on home ownership.	null
interest_paid_on_self_occupied_hp_loan	`num`	Interest on Borrowed Capital on Home Loan. (Self-occupied)	null
capital_gains_by_quarter	`json object`	Capital Gains for the Quarter
savings_interest	`num`	Savings Account Interest	null
fd_interest	`num`	Fixed deposit Interest	null
dividend_income	`num`	Dividend Income.	null
other_income	`num`	Other Income	null
regular_business_turnover	`num`	Business Turnover	null
regular_business_profit	`num`	Business Profits	null
speculative_business_turnover	`num`	Speculative Business Turnover	null
speculative_business_profit	`num`	Speculative Busines Profit	null
elss	`num`	Section 80C - ELSS investments	85000
tax_credits	`json object`	Tax Credits of Taxpayer

Address

Param	Type	Description	Example
city	`string`	Taxpayer's city	Ahmedabad

Capital Gains by Quarter

Param	Type	Description	Example
stcg_15	`object`	Short-Term Capital Gains 15%	15000
stcg_30	`num`	Short-Term Capital Gains 30%	0
stcg_slab	`num`	Short-Term Capital Gains slab	0
ltcg_10	`num`	Long-Term Capital Gains 10%	-15000
ltcg_20	`num`	Long-Term Capital Gains 20%	0

Tax Credits

Param	Type	Description	Example
type	`string`	Type of Tax Credit	TDS
date_of_deposit	`date`	Date of Deposit of particular Tax Credit	01/04/2020
amount	`num`	Amount of Tax Credit	null

Sample CURL Request

curl --request POST \
     --url https://api.sandbox.co.in/calculators/income-tax/advance-tax/old \
     --header 'Authorization: xxxxxxxxxx' \
     --header 'accept: application/json' \
     --header 'x-api-key: xxxxxxxxxx' \
     --header 'x-api-version: 1.0'
     --data '
     {
    "financial_year": "FY 2020-21",
    "pan": "ASDPF1234G",
    "filing_category": "General",
    "residential_status": "Non Resident",
    "basic_salary": 1500000,
    "hra_received": null,
    "rent_paid": null,
    "other_allowances": null,
    "address": {
        "city": "Ahmedabad"
    },
    "interest_paid_on_let_out_hp_loan": null,
    "rent_received": null,
    "property_tax_paid": null,
    "interest_paid_on_self_occupied_hp_loan": null,
    "capital_gains_by_quarter": [
        [
            "stcg_15",
            "stcg_30",
            "stcg_slab",
            "ltcg_10",
            "ltcg_20"
        ],
        [
            150000,
            0,
            0,
            -15000,
            0
        ],
        [
            0,
            0,
            0,
            0,
            0
        ],
        [
            0,
            0,
            0,
            0,
            0
        ],
        [
            0,
            0,
            0,
            0,
            0
        ]
    ],
    "savings_interest": null,
    "fd_interest": null,
    "dividend_income": null,
    "other_income": null,
    "regular_business_turnover": null,
    "regular_business_profit": null,
    "speculative_business_turnover": null,
    "speculative_business_profit": null,
    "elss": "85000",
    "tax_credits": [
        [
            "type",
            "date_of_deposit",
            "amount"
        ],
        [
            "TDS",
            "01/04/2020",
            null
        ],
        [
            "TCS",
            "01/04/2020",
            null
        ],
        [
            "Advance Tax",
            "15/06/2020",
            35000
        ]
    ]
}
'

❗️
Test Environment Not Available

Response

API Responds with an array of Advance Tax Installments, containing the following parameters

Param	Type	Description	Example
total_tax_payable	`number`	Total tax payable for the financial year	218400
installment_percentage	`enum`	Installment Percentage. Possible Values: `15`,`45`,`75`,`100`.	15
tax_to_be_deposited	`number`	Tax to be deposited for the quarter	32760
tax_credits	`number`	Tax already paid for the quarter	0
tax_outstanding	`number`	Tax to be paid for the quarter	32700
interest_rate_us_234c	`number`	Interest rate to be levied on late payment of advance tax	3
interest_us_234c	`number`	The interest amount to be paid on late payment of advance tax for the quarter	981

Response Caching

Response caching is not available for this API. Learn more about our response caching mechanism here

Wallet Charge

Since the Advance Tax Calculator per New Regime API is not a Paid API, no wallet charge will take place.

Versioning

This API is currently in major version 1.0. Refer to our versioning policies here