calculate_advance_tax
Calculate quarterly advance tax instalments with due dates under Sections 234B and 234C, helping you plan payments and avoid interest penalties.
Instructions
Calculate quarterly advance tax installment schedule per Sections 234B and 234C.
Use when planning quarterly tax payments to avoid interest penalties. Provides due dates and amounts for each installment.
Args: estimated_income: Estimated annual income for FY2025-26. regime: Tax regime for calculation. taxpayer_type: Category for slab selection. existing_tds: TDS already likely to be deducted.
Returns: Standard envelope with quarterly breakdown and interest rules.
Notes: Due dates: June 15 (15%), Sept 15 (45%), Dec 15 (75%), Mar 15 (100%). Interest 1% per month for delay under Section 234C.
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| regime | No | 'new' or 'old' tax regime | new |
| existing_tds | No | TDS already deducted or to be deducted in rupees | |
| taxpayer_type | No | 'individual', 'senior_citizen', or 'super_senior_citizen' | individual |
| estimated_income | Yes | Estimated total income for FY in rupees |
Output Schema
| Name | Required | Description | Default |
|---|---|---|---|
No arguments | |||