For freelancers and self-employed professionals: calculate your quarterly advance tax instalments and due dates, based on your estimated annual income.
Your net taxable income (gross income minus business expenses and eligible deductions) is used to calculate your total estimated tax liability for the year. TDS already deducted by your clients is subtracted, since that's already been paid to the government on your behalf. The remaining amount is due in four instalments at 15%, 45% (cumulative), 75% (cumulative), and 100% (cumulative) of the total, by four dates through the financial year.
Anyone whose total tax liability for the year is ₹10,000 or more, after TDS, must pay advance tax — this typically applies to freelancers, self-employed professionals, and anyone with significant income not fully covered by TDS (like capital gains or rental income).
For most taxpayers: 15% of tax liability by 15 June, 45% cumulative by 15 September, 75% cumulative by 15 December, and 100% by 15 March of the financial year.
You'll owe interest under Sections 234B and 234C for the shortfall and delay, calculated at 1% per month — so it's worth estimating and paying on time even if the estimate isn't perfectly precise, rather than skipping instalments entirely.