Computation of advance tax.

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....ub-section (2), be computed as under-- A = B-C where,-- A = the amount of advance tax payable in a Financial year; B = income-tax on the specified sum calculated at the rates in force in the Financial 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....