Advance Tax per New Regime
About
- The API takes in the
Request Bodyand calculates the Advance Tax Installments for the income calculated based on the New Regime.
Definitions
- Advance tax is the “Pay as you earn” tax that has to be deposited to the Income Tax Department during the financial year.
- Every person whose tax liability for a financial year exceeds INR 10,000 has to pay it on an instalment basis.
Know More
Endpoint
HTTP Method | Endpoint | Description |
|---|---|---|
POST | /calculators/income-tax/advance-tax/new | A Request Body (JSON) is uploaded for calculating the Advance Tax Liability as per new Regime. |
Request Body
Param | Description | Example | Type |
|---|---|---|---|
financial_year | FInancial year for which Advance Tax has to be calculated. | FY 2020-21 |
|
pan | PAN number of the taxpayer. | ASDPF1234G |
|
filing_category | Category of the type of filing | General |
|
residential_status | Resident, Not Ordinarily Resident or Non-resident. | Non Resident |
|
basic_salary | Basic Salary of Taxpayer. | 1500000 |
|
hra_received | Home Rent Allowance | null |
|
rent_paid | Actual Rent Paid | null |
|
other_allowances | Othe Taxable Allowances given to Taxpayer. | null |
|
address | Address of the Taxpayer | "city": "Ahmedabad" |
|
interest_paid_on_let_out_hp_loan | Interest on Borrowed Capital on Home Loan. (Rented out) | null |
|
rent_received | Rent recieved from home rental. | null |
|
property_tax_paid | Municipal Tax paid on home ownership. | null |
|
interest_paid_on_self_occupied_hp_loan | Interest on Borrowed Capital on Home Loan. (Self occupied) | null |
|
capital_gains_by_quarter | Capital Gains for the Quarter |
| |
stcg_15 | Short Term Capital Gains 15% | 0 |
|
stcg_30 | Short Term Capital Gains 30% | 0 |
|
stcg_slab | Short Term Capital Gains slab | -15000 |
|
ltcg_10 | Long Term Capital Gains 10% | 0 |
|
ltcg_20 | Long Term Capital Gains 20% | 0 |
|
savings_interest | Savings Account Interest | null |
|
fd_interest | Fixed deposit Interest | null |
|
dividend_income | Divdended Income. | null |
|
other_income | Other Income | null |
|
regular_business_turnover | Business Turnover | null |
|
regular_business_profit | Business Profits | null |
|
speculative_business_turnover | Speculative Business Turnover | null |
|
speculative_business_profit | Speculative Busines Profit | null |
|
elss | Section 80C - ELSS investments | 85000 |
|
tax_credits | Tax Credits of Taxpayer [Object with following information] |
| |
type | Type of Tax Credit | TDS |
|
date_of_deposit | Date of Deposit of particular Tax Credit | 01/04/2020 |
|
amount | Amount of Tax Credit | null |
|
Response
Param | Description | Example |
|---|---|---|
advance_tax_installments | Gives the installments of Advance Tax. | 218400, |
Updated 10 days ago