Advance Tax Penalty Calculator
Verify quarterly deferment and default interest u/s 234B and 234C. Compares installment shortfalls, safe harbor limits, and assessed tax ratios.
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Total Interest Penalties: ₹4,975
Installment deferment u/s 234C or total default u/s 234B simple interest penalties are active.
Section 234C Interest
₹4,975
Interest charged on quarterly installment deferment shortfalls.
Section 234B Interest
₹0
Charged at 1% per month for 5 months on AY shortfall.
Quarterly Deferment Statement (234C)
Section 234B Default Trigger
90% Advance Tax Met
You have paid more than 90% of your assessed tax. No Section 234B interest is payable.
Never miss an advance tax due date again.
Upload your supplier invoices — our AI reads them and syncs the purchase entries to Tally in seconds. No manual typing.
Understanding Advance Tax Penalties in India
Any taxpayer in India whose estimated net tax liability exceeds ₹10,000 in a financial year is legally required to pay tax in advance through quarterly installments. Delayed payments or shortfalls trigger cumulative interest penalties at 1% per month under Sections 234B and 234C of the Income Tax Act.
Section 234C Deferments
Applies to deferments of individual quarterly installments:
- Quarterly Installments: 15% due by June 15th, 45% by September 15th, 75% by December 15th, and 100% by March 15th.
- Safe Harbor Relief: Safe harbors of 12% for June and 36% for September prevent penalty triggers on minor estimation margins.
Section 234B Underpayments
Triggered by a general default on the total tax liability paid by March 31st:
- 90% Rule: Active if the aggregate advance tax + TDS/TCS settled as of March 31st is less than 90% of the net assessed tax.
- Accumulation Period: Interest accumulates at 1% per month starting April 1st of the Assessment Year until the outstanding amount is fully paid.
Frequently Asked Questions
Everything you need to know about TrulyInvoice for Tally Prime.
On clear digital PDF invoices, TrulyInvoice achieves approximately 96% field-level extraction accuracy based on internal benchmarks. Accuracy on handwritten or low-resolution scanned invoices is approximately 88-90%. Our review-first workflow ensures you catch and correct any AI omissions before they reach Tally.
TrulyInvoice differs from Suvit in three specific ways: (1) Bulk upload support — TrulyInvoice processes multi-file batches at once vs Suvit's 10-invoice cap. (2) Transparent monthly plans starting at ₹399/month for 1,000 pages (Lite), ₹599 for 2,000 pages (Plus), and Custom High Volume Plans vs Suvit's annual subscription model. (3) Multi-user team seating (up to 3 seats) sharing a single voucher quota. Suvit includes broader module coverage like GST filing that TrulyInvoice focuses on purely as a dedicated invoice-to-Tally engine.
Yes. TrulyInvoice's AI extracts data from handwritten invoices, PDFs, scanned images, and multi-page documents. It's trained on diverse Indian invoice formats including handwritten text.
Setup is typically quick: sign up, enable Port 9000 in Tally settings, install the connector, and test with a sample invoice.
TrulyInvoice supports common GST scenarios and can help map interstate (IGST) and intrastate (CGST+SGST) flows based on invoice and ledger data.
TrulyInvoice supports PDF invoices, JPG/PNG images, scanned documents, and handwritten invoices. It works with GST invoices, purchase bills, and sale invoices from any Indian vendor.
Yes. TrulyInvoice works with Tally running on your local computer. Enable Port 9000 in Tally settings (F1 > Settings > Connectivity) and the connector handles the rest. No cloud hosting required.
TrulyInvoice automatically creates missing ledgers and stock items in Tally. You can also create them manually in Tally and click Refresh to sync.
Yes. Invoices are encrypted in transit and at rest. The Tally sync happens on your computer — data never leaves your network during the sync process.
TrulyInvoice processes most invoices in 15-30 seconds from upload to Tally sync. This includes AI extraction, your review, and the actual sync. A single user can process 100+ invoices in under an hour with the review-first workflow.
TrulyInvoice includes a mandatory review step before syncing. You can edit any field the AI extracted. Additionally, mathematical validation checks if amount equals quantity multiplied by rate, flagging potential calculation errors automatically before they reach Tally.
No technical expertise required. Setup involves three simple steps: enable Port 9000 in Tally settings (F1 > Settings > Connectivity), download the connector app, and sign in. Most users complete setup in under 5 minutes. Phone and WhatsApp support is available if needed.
Yes. You can upload up to 20 invoices per batch upload (PDFs, scans, or photos). The system processes them sequentially with 99%+ accurate AI extraction, and you can review and sync them individually or in batches to Tally Prime.
TrulyInvoice creates both Purchase and Sales vouchers in Tally. It supports standard GST scenarios including intra-state (CGST+SGST) and inter-state (IGST) transactions. The system auto-maps GST rates and creates appropriate ledgers based on your invoice data.
Yes. TrulyInvoice includes a free 14-day trial with instant signup — no credit card required. Plans start at ₹399/month for Lite (1,000 pages) and ₹599/month for Plus (2,000 pages, 2 seats) after your trial ends. No hidden costs.
Stop Manual Voucher Entry.
TrulyInvoice automates your complete invoice workflow and syncs directly to Tally Prime.
No credit card · 14-day free trial
Upload Invoice
Drag & drop PDFs, scans, or photos.
AI Extraction
Line items, tax, and ledgers mapped.
1-Click Review
Verify extracted details on dashboard.
Direct Sync
Vouchers created instantly in Tally Prime.