Many of us are unaware of Advance Tax Payment & end us paying unnecessary Interest during tax filing for our additional incomes. This presentation shared to appx. 25,000 individuals will help you to check if you really need to pay advance tax !

1. CHECK IF YOU
QUALIFY FOR
ADVANCE TAX PAYMENT

2. A SENIOR CITIZEN ?
Age 60 or Above
YES
STOP HERE
NO
CONTINUE FURTHER
If Senior Citizens have income from Business or Profession or consultant income, they are
also required to pay Advance Tax.

3. S.No Description of Income / Conditions
Tick if
applicable
1 Have you worked for 2 Employers or more from April 2014 till date ?
2
Have you earned Interest Income (or) Do you expect to earn Interest
Income between 1st April 2014 to 31st March 2015 ? Could be Interest
Savings Account, Fixed Deposits, Recurring Deposits, NSC, SCSS, etc
3
You receive Rental Income (Commercial or Residential) and are not
declaring the same to your Employer
4
Have you made Capital Gains Profits from Sale of Mutual Funds (or)
Shares (or) Property between 1st April 2014 to date ?
5
Do you expect to earn any Commission income (or) Professional Income
(or) Business ?
6 Earning Agricultural Income exceeding Rs.5000 in a Financial Year
7
If you are not employed but receive any Income exceeding Rs.2,00,000
in a Financial Year

4. S.No Description of Income / Conditions
Tick if
applicable
1 Have you worked for 2 Employers or more from April 2014 till date ?
2
Have you earned Interest Income (or) Do you expect to earn Interest
Income between 1st April 2014 to 31st March 2015 ? Could be Interest
Savings Account, Fixed Deposits, Recurring Deposits, NSC, SCSS, etc
3
Do you have 1 or more
“tick” ?
If Yes, then continue to
the next slide
You receive Rental Income (Commercial or Residential) and are not
declaring the same to your Employer
4
Have you made Capital Gains Profits from Sale of Mutual Funds (or)
Shares (or) Property between 1st April 2014 to date ?
5
Do you expect to earn any Commission income (or) Professional Income
(or) Business ?
6 Earning Agricultural Income exceeding Rs.5000 in a Financial Year
7
If you are not employed but receive any Income exceeding Rs.2,00,000
in a Financial Year

5. Calculate based on your Total Income (Include all the Incomes
from all sources), the Additional Tax you are expected to pay
(Actual Tax Liability – TDS).
If this balance (Additional Tax) exceeds by Rs.10,000 – You are
required to make Advance Tax payments.
See next slide for an Example --------------

6. S.No Description of Income / Conditions
Tick if
applicable
1 Have you worked for 2 Employers or more from April 2014 till date ? X
2
Have you earned Interest Income (or) Do you expect to earn Interest
Income between 1st April 2014 to 31st March 2015 ? Could be Interest
Savings Account, Fixed Deposits, Recurring Deposits, NSC, SCSS, etc
1,00,000
3
You receive Rental Income (Commercial or Residential) and are not
declaring the same to your Employer
Declared
to
Employer
4
Have you made Capital Gains Profits from Sale of Mutual Funds (or)
Shares (or) Property between 1st April 2014 to date ?
X
5
Do you expect to earn any Commission income (or) Professional Income
(or) Business ?
X
6 Earning Agricultural Income exceeding Rs.5000 in a Financial Year X
7
If you are not employed but receive any Income exceeding Rs.2,00,000
in a Financial Year
X
Example

7. Example
Description of Income / Conditions Value
Interest Income Earned from 1st April 2014 to Date 1,00,000
Expected Savings Account Interest Income, exceeding Rs.10,000 5,000
Expected Interest Income from Today to 31st March 2015 1,45,000
TOTAL ADDITIONAL INCOME [ A ] 2,50,000
My Tax Slab (Income is more than 10 Lakhs but less than 1 Crore) [ B ] 30.90%
TOTAL TAX ON ADDITIONAL INCOME [C] = [A] x [B] 77,250
TDS Deducted/Deductible by the Bank [ For FD Interest, Bank deducts
10% TDS ] [D]
24,500
BALANCE TAX PAYABLE [C] – [D] 52,750
Advance Tax 1st
Installment (30%)
Advance Tax 2nd
Installment (30%)
Advance Tax 3rd
Installment (40%)
15th September 15th December 15th March
Pay Rs.15,825 Pay Rs.15,825 Rs.21,100
Salary Income & Exemptions
not considered as the same
would be considered by your
Employer

8. Example
Description of Income / Conditions Value
Interest Income Earned from 1st April 2014 to Date 1,00,000
Expected Savings Account Interest Income, exceeding Rs.10,000 5,000
Expected Interest Income from Today to 31st March 2015 1,45,000
TOTAL ADDITIONAL INCOME [ A ] 2,50,000
My Tax Slab (Income is more than 10 Lakhs but less than 1 Crore) [ B ] 30.90%
TOTAL TAX ON ADDITIONAL INCOME [C] = [A] x [B] 77,250
TDS Deducted/Deductible by the Bank [ For FD Interest, Bank deducts
10% TDS ] [D]
You have just saved Rs.5500/- of
unnecessary Tax, Interest and
Penalty because you paid Advance
24,500
Congratulations !
BALANCE TAX PAYABLE [C] – [D] 52,750
Advance Tax 1st
Installment (30%)
Tax…
Advance Tax 2nd
Installment (30%)
Advance Tax 3rd
Installment (40%)
15th September 15th December 15th March
Pay Rs.15,825 Pay Rs.15,825 Rs.21,100

9. We can also assist you in Accurate Calculation of your
Advance Taxes and help you save MORE tax.
Please do contact us for support / assistance – write to
isupport@taxbingo.com or call 1800-1033-829
or 093611-41445