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of <h1>Clause 405 Explains Advance Tax Calculation: Deductible Tax Subtracted from Tax on Specified Sum in Sections 406/407.</h1> Clause 405 of the Income Tax Bill, 2025, outlines the computation of advance tax payable by an assessee. The advance tax amount (A) is determined by subtracting the deductible or collectible income tax (C) from the income tax on the specified sum (B). The specified sum is defined in sections 406 or 407. The clause also addresses scenarios involving net agricultural income, which must be considered for advance tax computation as per the Finance Act. The net agricultural income is either the amount used for charging income tax on the specified sum or estimated by the assessee.
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