Advance tax exemption removes payment obligation for small assessees when computed advance tax does not exceed the threshold. The amendment to section 208 substitutes the reference in sub section (1)(a) to clause (a) of section 209 with clause (a) of sub section (1) of section 209 and inserts a new sub section exempting assessees referred to in sub section (2)(c) or (2)(d) from the requirement to pay any advance tax during the financial year where the advance tax computed under the section does not exceed fifteen hundred rupees.
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Advance tax exemption removes payment obligation for small assessees when computed advance tax does not exceed the threshold.
The amendment to section 208 substitutes the reference in sub section (1)(a) to clause (a) of section 209 with clause (a) of sub section (1) of section 209 and inserts a new sub section exempting assessees referred to in sub section (2)(c) or (2)(d) from the requirement to pay any advance tax during the financial year where the advance tax computed under the section does not exceed fifteen hundred rupees.
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