India - Income Tax Act 2010 - Saarc

1.659 CH. XIV - PROCEDURE FOR ASSESSMENT S. 14124[Explanation.—For the purposes of this sub-section, “assessed tax” means thetax on the total income as declared in the return as reduced by the amount of,—(i) tax deducted or collected at source, in accordance with the provisionsof Chapter XVII, on any income which is subject to such deduction orcollection and which is taken into account in computing such totalincome;(ii) any relief of tax or deduction of tax claimed under section 90 orsection 91 on account of tax paid in a country outside India;(iii) any relief of tax claimed under section 90A on account of tax paid inany specified territory outside India referred to in that section; and(iv) any tax credit claimed to be set off in accordance with the provisionsof section 115JAA.]](2) After a regular assessment under 25 [section 115WE or section 115WF or]section 143 or section 144 26 [or an assessment under 27 [section 153A or] section158BC] has been made, any amount paid under sub-section (1) shall be deemedto have been paid towards such regular assessment 26 [or assessment, as the casemay be].28[(3) If any assessee fails to pay the whole or any part of such tax or interest orboth in accordance with the provisions of sub-section (1), he shall, withoutprejudice to any other consequences which he may incur, be deemed to be anassessee in default in respect of the tax or interest or both remaining unpaid, andall the provisions of this Act shall apply accordingly.]29[(4) The provisions of this section as they stood immediately before their amendmentby the Direct Tax Laws (Amendment) Act, 1987 (4 of 1988), shall apply toand in relation to any assessment for the assessment year commencing on the 1stday of April, 1988, or any earlier assessment year and references in this section tothe other provisions of this Act shall be construed as references to those provisionsas for the time being in force and applicable to the relevant assessment year.]Provisional assessment.141. [Omitted by the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971.]24. Substituted by the Finance Act, 2006, w.e.f. 1-4-2007. Prior to its substitution, Explanationread as under :‘Explanation.—For the purposes of this sub-section, “assessed tax” means the tax on thetotal income as declared in the return as reduced by the amount of tax deducted orcollected at source, in accordance with the provisions of Chapter XVII, on any incomewhich is subject to such deduction or collection and which is taken into account incomputing such total income.’25. Inserted by the Finance Act, 2005, w.e.f. 1-4-2006.26. Inserted by the Finance Act, 1999, w.e.f. 1-6-1999.27. Inserted by the Finance Act, 2003, w.e.f. 1-6-2003.28. Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989. Prior to itssubstitution, sub-section (3) was substituted by the Taxation Laws (Amendment) Act,1975, w.e.f. 1-4-1976.29. Inserted by the Direct Tax Laws (Second Amendment) Act, 1989, w.e.f. 1-4-1989.