Advance tax credit: payments treated as tax for the year payable and credited in the regular assessment. Sums paid or recovered as advance tax, other than penalties or interest, are treated as payment of tax for the tax year in which they were payable, and ... Summary
Advance tax credit: payments treated as tax for the year payable and credited in the regular assessment.
Sums paid or recovered as advance tax, other than penalties or interest, are treated as payment of tax for the tax year in which they were payable, and credit for those payments must be given to the assessee in the regular assessment.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
