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of <h1>New Income Tax Bill 2025: Assessing Officers Can Demand Advance Tax Based on Latest Income Estimates by February.</h1> Under the Income Tax Bill, 2025, an Assessing Officer can require an assessee to pay advance tax if deemed liable, based on the higher of the total income from the latest assessed tax year or any subsequent return. This order must be issued by February's end of the tax year and followed by a demand notice. The assessee can adjust the advance tax based on current income estimates, notifying the Assessing Officer if lower, or paying a higher amount if estimated to exceed the specified sum. Payments are due by instalments as specified, with adjustments possible if notice is delayed.
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