Advance tax adjustment: taxpayers must estimate current income and revise instalments when demand materially understates liability. The amendment permits an assessee required to pay advance tax under an order to submit an estimate of current income and the advance tax payable thereon (calculated under section 209) and to pay the revised amount in equal instalments on remaining section 211 dates or in one sum if only the last date remains. New provisions require unassessed taxpayers to file similar estimates when income likely exceeds the section 208(2) threshold, and require revision and payment where computed advance tax on estimated current income materially exceeds the amount demanded under section 210.
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Provisions expressly mentioned in the judgment/order text.
Advance tax adjustment: taxpayers must estimate current income and revise instalments when demand materially understates liability.
The amendment permits an assessee required to pay advance tax under an order to submit an estimate of current income and the advance tax payable thereon (calculated under section 209) and to pay the revised amount in equal instalments on remaining section 211 dates or in one sum if only the last date remains. New provisions require unassessed taxpayers to file similar estimates when income likely exceeds the section 208(2) threshold, and require revision and payment where computed advance tax on estimated current income materially exceeds the amount demanded under section 210.
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