Documents Required for Advance Tax Calculation in India – A Complete Guide 🧾

Advance tax is the tax you pay as you earn, rather than waiting till the end of the financial year. It helps taxpayers avoid interest penalties under Sections 234B and 234C of the Income Tax Act. To calculate and pay your advance tax accurately, you need to have all the required documents in place.

At TAXLA SERVICES, we’ve made this easy for you! Here’s a checklist of documents you should keep handy while calculating your advance tax:

1️⃣ Income Details

Having a clear view of all your income sources is the foundation of accurate tax calculation:

  • ✅ Profit & Loss Statement (For Business or Professionals)

  • ✅ Bank Statements (To compute interest income from savings, fixed deposits, etc.)

  • ✅ Rental Income Details (Rent agreements, actual rent received)

  • ✅ Capital Gains Statement (If you’ve sold shares, mutual funds, or property)

  • ✅ Salary Slips/Form 16 (For salaried individuals)

2️⃣ TDS (Tax Deducted at Source), If Any

Ensure you collect all your TDS certificates or check your Form 26AS for:

  • ✅ TDS on salary

  • ✅ TDS on bank interest

  • ✅ TDS on professional receipts

This helps avoid double taxation and claim the correct credit.

3️⃣ Investment & Deduction Proofs

Reduce your taxable income with valid deductions. Keep ready:

  • ✅ Section 80C Investments – LIC, PPF, ELSS, NSC, tuition fees, etc.

  • ✅ Section 80D – Health insurance premiums for self and family

  • ✅ Home Loan Interest Certificate – For Section 24(b) deduction

  • ✅ Education Loan Interest Certificate – If applicable

  • ✅ Donation Receipts – For claiming deduction under Section 80G

4️⃣ Previous Tax Payments

If you’ve already paid any advance tax this financial year:

  • ✅ Keep the Advance Tax Challans or receipts for proper reconciliation.

5️⃣ Income Tax Login Access

Your Income Tax Portal login credentials are essential to check:

  • ✅ AIS (Annual Information Statement)

  • ✅ TIS (Taxpayer Information Summary)

These reports help verify your income, TDS, and high-value transactions.

🧮 Why Is This Important?

Missing even a single document can result in incorrect tax calculation, missed deductions, and penalties. Advance tax is payable in four installments — June, September, December, and March — so timely documentation ensures peace of mind.

👨‍💼 Need Expert Help?

Let TAXLA SERVICES handle your tax needs while you focus on what matters most. Whether you are a salaried professional, a freelancer, or a business owner — we offer personalized tax planning and advance tax services.

📞 Contact Us Today:
+91 9600076134 / 6374812546
📧 Email: auditsiva2@gmail.com
🌐 Visit: www.taxlaservices.com

📍 Address: 19, SBI Colony 3rd Street, Saligramam, Chennai – 600093

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