Computation of advance tax.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... sub-section (2), be computed as under-- A = B-C where,-- A = the amount of advance tax payable in a tax year; B = income-tax on the specified sum calculated at the rates in force in the tax year, where "specified sum" shall have the meaning assigned to it in section 406 or 407; C = amount of income-tax which would be deductible or collectible at source....