24[Instalments of
advance tax and due dates.25
211. 26[(1)
Advance tax on the current income calculated in the manner laid down in section 209 shall be payable by—
(a) all the companies, who are liable to pay the same, in four
instalments during each financial year and the due date of each instalment and
the amount of such instalment shall be as specified in Table I below :
Table I
|
|
Due date of instalment
|
Amount payable
|
|
|
On or before
the 15th June
|
Not less
than fifteen per cent of such advance tax.
|
|
|
On or before
the 15th September
|
Not less
than forty-five per cent of such advance tax, as reduced by the amount, if
any, paid in the earlier instalment.
|
|
|
On or before
the 15th December
|
Not less than
seventy-five per cent of such advance tax, as reduced by the amount or
amounts, if any, paid in the earlier instalment or instalments.
|
|
|
On or before
the 15th March
|
The whole
amount of such advance tax as reduced by the amount or amounts, if any, paid
in the earlier instalment or instalments;
|
(b) all the assessees (other than companies), who are liable to pay
the same, in three instalments during each financial year and the due date of
each instalment and the amount of such instalment shall be as specified in
Table II below :
Table II
|
|
Due date of instalment
|
Amount payable
|
|
|
On or before
the 15th September
|
Not less
than thirty per cent of such advance tax.
|
|
|
On or before
the 15th December
|
Not less
than sixty per cent of such advance tax, as reduced by the amount, if any,
paid in the earlier instalment.
|
|
|
On or before
the 15th March
|
The whole
amount of such advance tax as reduced by the amount or amounts, if any, paid
in the earlier instalment or instalments :
|
Provided that any amount paid by way of advance tax on
or before the 31st day of March shall also be treated as advance tax paid
during the financial year ending on that day for all the purposes of this Act.]
(2) If the notice of demand issued under section 156
in pursuance of an order of the Assessing Officer under sub-section (3) or
sub-section (4) of section 210 is served after any
of the due dates specified in sub-section (1), the appropriate part or, as the
case may be, the whole of the amount of the advance tax specified in such
notice shall be payable on or before each of such of those dates as fall after
the date of service of the notice of demand.]
