Section 80 - Substitution of new section for section 211

Advance tax instalment schedule requires staged payments by specified due dates to cover current income tax liability.

The substituted section 211 mandates payment of advance tax in three staged instalments within the financial year, requiring progressive cumulative payments by the mid September, mid December and mid March due dates with earlier instalments credited against later ones; payments made on or before the last day of March are treated as paid in that financial year. It further provides that if a notice of demand under the procedural provision is served after any scheduled due date, the instalment amounts in that notice are payable on or before each remaining due date that falls after service.