Advance tax adjustment: existing notices remain valid despite rate changes, and excess payments may be offset against later instalments.

Special provision preserves the effect of advance tax orders and notices issued before commencement of the Finance (Amendment) Act, 1975 by treating the amounts specified as substituted by amounts computed using the varied rates; validity of such orders or notices is not to be questioned solely due to rate variation, and any excess paid in an earlier instalment may be adjusted against a later instalment. Terms used are as defined in the Income tax Act, 1961.

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