Advance tax rates must follow prevailing tax rates or the rates in force for the prior year when computing liability. Advance tax must be computed using either the prevailing tax rates or the rates in force of the previous year for which the advance tax is being calculated, applying the tax schedule applicable to that assessment period.
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Provisions expressly mentioned in the judgment/order text.
Advance tax rates must follow prevailing tax rates or the rates in force for the prior year when computing liability.
Advance tax must be computed using either the prevailing tax rates or the rates in force of the previous year for which the advance tax is being calculated, applying the tax schedule applicable to that assessment period.
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