Section 208 - Conditions of liability to pay advance tax - Income-tax Act, 1961

1 [Conditions of liability to pay advance tax. 208. Advance tax shall be payable during a financial year in every case where the amount of such tax payable by the assessee during that year, as computed in accordance with the provisions of this Chapter, is 2 [ten thousand rupees] rupees or more.] ------------------- Notes :- 1. Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. Prior to the substitution by the said Amendment Act, section 208 was first substituted by the Finance Act, 1969, w.e.f. 1-4-1969 and was later amended by the Finance Act, 1972, w.e.f. 1-4-1972, the Finance (No. 2) Act, 1977, w.e.f. 1-9-1977, the Finance Act, 1978, w.e.f. 1-6-1978, the Finance Act, 1979, w.e.f. 1-4-1979, the Finance (No. 2) Act, 1980, w.e.f. 1-9-1980, the Finance Act, 1981, w.e.f. 1-6-1981, the Taxation Laws (Amendment) Act, 1984, w.e.f. 2-4-1985 and the Finance Act, 1985, w.e.f. 24-5-1985. 2. Substituted vide Finance (No.2) Act, 2009, w.e.f. 1-4-2009, before it was read as, "five thousand rupees", earlier Substituted for "one thousand five hundred" by the Finance (No. 2) Act, 1996, w.e.f. 1-10-1996.