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of <h1>Income Tax Bill 2025 Clause 410 simplifies advance tax credit language while maintaining same protections against double taxation</h1> The Income Tax Bill 2025's Clause 410 modernizes advance tax credit provisions by replacing complex terminology from Section 219 of the Income Tax Act 1961. The new clause uses simplified language, substituting 'tax year' for 'previous year' and 'assessment year' terminology. Both provisions exclude penalties and interest from advance tax credit and ensure payments are credited against final tax liability in regular assessment. Key changes include more concise drafting and removal of specific provisos previously addressed in the 1961 Act. The legislative intent remains unchanged: preventing double taxation and ensuring fair credit for advance tax payments made by taxpayers during the relevant income period.
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