Every person whose tax liability for a financial year exceeds INR 10,000 is liable to pay advance tax. Instead of paying tax amount after the end of financial year, advance tax is paid on a quarterly installment basis. It is also known as "pay as you earn" tax. This ensures that the government can collect taxes uniformly throughout the year.

To calculate advance tax on Quicko

  • In the Planning tab, navigate to New vs Old Regime 

  • Enter the details pertaining to

    • Incomes

    • Deductions

    • Tax credits

  • On the right hand side you can see the Tax Calculation under both regimes.

  • For payment of Advance Tax navigate to > Advance Tax tab

Note: When to navigate to Advance Tax you will find the quarterly breakup of your liability to pay advance tax. Here, you can chose to pay advance tax based on your selection of the tax regime.