Advance tax liability arises on an assessee's current income for the next assessment year when advance tax is payable. The substituted section 207 treats an assessee's total income chargeable for the immediately following assessment year as current income and makes advance tax payable during the financial year in accordance with the chapter's provisions; section 208 sets a statutory minimum threshold which, if met or exceeded after computation under the chapter, renders advance tax payable during that financial year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Advance tax liability arises on an assessee's current income for the next assessment year when advance tax is payable.
The substituted section 207 treats an assessee's total income chargeable for the immediately following assessment year as current income and makes advance tax payable during the financial year in accordance with the chapter's provisions; section 208 sets a statutory minimum threshold which, if met or exceeded after computation under the chapter, renders advance tax payable during that financial year.
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