https://www.taxtmi.com/acts?id=4066 Advance tax requires persons likely to exceed the income threshold to send a prescribed statement or estimate of current income and payable advance tax to the Income-tax Officer and to pay that advance tax in equal instalments or, when applicable, in one sum. Taxpayers may replace statements with estimates if income is likely lower, and must furnish revised estimates and pay additional tax where current income exceeds earlier computations by more than the prescribed percentage, with a lower percentage applying to companies. The Commissioner may extend filing dates for certain businesses, and all submissions must be in prescribed form and verified. Current income excludes capital gains and specified incomes. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 16:44:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4066 Advance tax requires persons likely to exceed the income threshold to send a prescribed statement or estimate of current income and payable advance tax to the Income-tax Officer and to pay that advance tax in equal instalments or, when applicable, in one sum. Taxpayers may replace statements with estimates if income is likely lower, and must furnish revised estimates and pay additional tax where current income exceeds earlier computations by more than the prescribed percentage, with a lower percentage applying to companies. The Commissioner may extend filing dates for certain businesses, and all submissions must be in prescribed form and verified. Current income excludes capital gains and specified incomes. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4066