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 | 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 |
Updated 7 months ago