Advance Tax per New Regime

21522152

About

  • The API takes in the Request Body and 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.

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Know More

Advance Tax: Rules, Calculations, and Due Dates


Endpoint

HTTP MethodEndpointDescription
POST/calculators/income-tax/advance-tax/newA Request Body (JSON) is uploaded for calculating the Advance Tax Liability as per new Regime.

API EndpointAPI Endpoint

Request Body

ParamDescriptionExampleType
financial_yearFInancial year for which Advance Tax has to be calculated.FY 2020-21string
panPAN number of the taxpayer.ASDPF1234Gstring
filing_categoryCategory of the type of filingGeneralstring
residential_statusResident, Not Ordinarily Resident or Non-resident.Non Residentstring
basic_salaryBasic Salary of Taxpayer.1500000num
hra_receivedHome Rent Allowancenullnum
rent_paidActual Rent Paidnullnum
other_allowancesOthe Taxable Allowances given to Taxpayer.nullnum
addressAddress of the Taxpayer"city": "Ahmedabad"object
interest_paid_on_let_out_hp_loanInterest on Borrowed Capital on Home Loan. (Rented out)nullnum
rent_receivedRent recieved from home rental.nullnum
property_tax_paidMunicipal Tax paid on home ownership.nullnum
interest_paid_on_self_occupied_hp_loanInterest on Borrowed Capital on Home Loan. (Self occupied)nullnum
capital_gains_by_quarterCapital Gains for the Quarterobject
stcg_15Short Term Capital Gains 15%0object
stcg_30Short Term Capital Gains 30%0num
stcg_slabShort Term Capital Gains slab-15000num
ltcg_10Long Term Capital Gains 10%0num
ltcg_20Long Term Capital Gains 20%0num
savings_interestSavings Account Interestnullnum
fd_interestFixed deposit Interestnullnum
dividend_incomeDivdended Income.nullnum
other_incomeOther Incomenullnum
regular_business_turnoverBusiness Turnovernullnum
regular_business_profitBusiness Profitsnullnum
speculative_business_turnoverSpeculative Business Turnovernullnum
speculative_business_profitSpeculative Busines Profitnullnum
elssSection 80C - ELSS investments85000num
tax_creditsTax Credits of Taxpayer [Object with following information]object
typeType of Tax CreditTDSstring
date_of_depositDate of Deposit of particular Tax Credit01/04/2020date
amountAmount of Tax Creditnullnum

Response

ParamDescriptionExample
advance_tax_installmentsGives the installments of Advance Tax.218400,
15,
32760,
35000,
0,
3,
0