Estimate of advance tax: obligation to submit income and tax estimates and pay adjusted instalments accordingly. Section 212 establishes a mechanism for an assessee to submit an estimate of current income and the advance tax payable, to pay that amount in equal ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Estimate of advance tax: obligation to submit income and tax estimates and pay adjusted instalments accordingly.
Section 212 establishes a mechanism for an assessee to submit an estimate of current income and the advance tax payable, to pay that amount in equal instalments or a single sum if only the last date remains, to submit revised estimates and to adjust any excess or deficiency in subsequent instalments; it also requires estimates to be sent in the prescribed form and verified in the prescribed manner.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 1
Join Channel
TaxTMI 
