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TMI BlogLiability to pay advance taxX X X X Extracts X X X X X X X X Extracts X X X X ..... tax payable by an assessee in the financial year shall be computed in the following manner, namely:— (a) the assessee shall first estimate his total income and calculate income-tax thereon at the rates in force in the financial year; (b) the income-tax so calculated shall be reduced by - (i) the amount of income-tax which would be deductible or collectible at source during the financial year from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the advance income-tax, as reduced by the amount, if any, paid in the earlier instalment. 3. On or before the 15th March. The whole amount of the advance income-tax as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments. (4) The advance income-tax, in the case of a company, shall be payable in four instalments during the financial year on or before the dates spe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d in the earlier instalment or instalments. (5) Any amount of advance income-tax paid after the 15th March but before the expiry of the financial year shall be treated as advance income-tax paid during the financial year. (6) Every person who is liable to pay advance income-tax shall, of his own volition, pay the appropriate percentage of the advance income-tax on or before the due dates. (7) The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce income-tax in accordance with his estimation on or before the due dates specified in this section. (10) No order under sub-section (8) shall be passed after the last day of February of the financial year for which the advance tax is due. D.—Tax relief in respect of arrears or advance receipts - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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