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TMI BlogInsertion of new section 209AX X X X Extracts X X X X X X X X Extracts X X X X ..... section 208, send to the Income-tax Officer (a) where he has been previously assessed by way of regular assessment under this Act, a statement of advance tax payable by him computed in the manner laid down in clause (a) or, as the case may be, sub-clause (i) of clause (d) of sub-section (1) of section 209, or (b) where he has not previously been assessed by way of regular assessment under this Act, an estimate of (i) the current income, and (ii) the advance tax payable by him on the current income calculated in the manner laid down in section 209, and shall pay such amount of advance tax as accords with the statement or, as the case may be, estimate in equal instalments on the dates applicable in his case under section 211. (2) Where an as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of (i) the current income, and (ii) the advance tax payable by him on the current income calculated in the manner laid down in section 209, and shall pay such amount of advance tax as accords with his estimate in equal instalments on such of the dates applicable in his case under section 211 as have not expired, or in one sum if only the last of such dates has not expired. (4) In the case of any assessee who is liable to pay advance tax under sub-section (1) or sub-section (2) or, as the case may be, sub-section (3), if, by reason of the current income being likely to be greater than the income on which the advance tax so payable by him has been computed or for any other reason, the amount of advance tax computed in the manner laid down in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall pay, on or before the date as so extended, the amount by which the advance tax already paid by him falls short of the advance tax payable in accordance with his estimate. (5) The assessee may send a revised estimate of the advance tax payable by him before any one of the dates specified in section 211 and adjust any excess or deficiency in respect of any Instalment already paid in a subsequent instalment or in subsequent instalments. (6) Every statement or estimate under this section shall be sent in the prescribed form and verified in the prescribed manner. Explanation. For the purposes of this section and section 212, current income , in relation to the advance tax payable by an assessee during any financial year, means the total i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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