Advance Tax per New Regime

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 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.

API EndpointAPI Endpoint

Request Body

Param

Description

Example

Type

financial_year

FInancial year for which Advance Tax has to be calculated.

FY 2020-21

string

pan

PAN number of the taxpayer.

ASDPF1234G

string

filing_category

Category of the type of filing

General

string

residential_status

Resident, Not Ordinarily Resident or Non-resident.

Non Resident

string

basic_salary

Basic Salary of Taxpayer.

1500000

num

hra_received

Home Rent Allowance

null

num

rent_paid

Actual Rent Paid

null

num

other_allowances

Othe Taxable Allowances given to Taxpayer.

null

num

address

Address of the Taxpayer

"city": "Ahmedabad"

object

interest_paid_on_let_out_hp_loan

Interest on Borrowed Capital on Home Loan. (Rented out)

null

num

rent_received

Rent recieved from home rental.

null

num

property_tax_paid

Municipal Tax paid on home ownership.

null

num

interest_paid_on_self_occupied_hp_loan

Interest on Borrowed Capital on Home Loan. (Self occupied)

null

num

capital_gains_by_quarter

Capital Gains for the Quarter

object

stcg_15

Short Term Capital Gains 15%

0

object

stcg_30

Short Term Capital Gains 30%

0

num

stcg_slab

Short Term Capital Gains slab

-15000

num

ltcg_10

Long Term Capital Gains 10%

0

num

ltcg_20

Long Term Capital Gains 20%

0

num

savings_interest

Savings Account Interest

null

num

fd_interest

Fixed deposit Interest

null

num

dividend_income

Divdended Income.

null

num

other_income

Other Income

null

num

regular_business_turnover

Business Turnover

null

num

regular_business_profit

Business Profits

null

num

speculative_business_turnover

Speculative Business Turnover

null

num

speculative_business_profit

Speculative Busines Profit

null

num

elss

Section 80C - ELSS investments

85000

num

tax_credits

Tax Credits of Taxpayer [Object with following information]

object

type

Type of Tax Credit

TDS

string

date_of_deposit

Date of Deposit of particular Tax Credit

01/04/2020

date

amount

Amount of Tax Credit

null

num

Response

Param

Description

Example

advance_tax_installments

Gives the installments of Advance Tax.

218400,
15,
32760,
35000,
0,
3,
0


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