Businesses, partnerships, LLPs, and companies pay advance tax on the same 4-installment schedule as individuals (15/45/75/100 by Jun/Sep/Dec/Mar deadlines). Section 44AD presumptive taxation (8% of turnover for non-service businesses, 6% for digital receipts) simplifies this for small businesses. The calculator supports both regular accounting and presumptive options.
When to use this
Use for: proprietorship businesses computing advance tax, partnership firms paying advance tax via partners, LLPs and Pvt Ltd companies estimating quarterly outflows, startups with first-year revenue planning their first advance-tax payments, businesses switching between regular and 44AD presumptive.
Frequently Asked Questions
Can I use 44AD presumptive for my business?
If you're a small business (proprietor / partnership) with turnover under ₹3 crore (raised from ₹2 cr in Budget 2023), yes. 8% of turnover (or 6% for digital receipts) is deemed income, no separate bookkeeping required. The calculator computes advance tax on this when 44AD is toggled on.
How does advance tax work for companies?
Companies (Pvt Ltd, OPC, LLP, Public) pay advance tax at the corporate tax rate (22% for domestic, 15% for new manufacturing, etc.) on estimated profits. Same 4-installment schedule. Companies also pay MAT (Minimum Alternate Tax) and AMT (Alternate Minimum Tax) computations that affect advance tax timing.
Powered by Advance Tax Calculator.