India - Income Tax Act 2010 - Saarc

S. 209 I.T. ACT, 1961 1.7909[Conditions of liability to pay advance tax.208. Advance tax shall be payable during a financial year in every casewhere the amount of such tax payable by the assessee during thatyear, as computed in accordance with the provisions of this Chapter, is 10 [tenthousand] rupees or more.]Computation of advance tax.209. 11 [(1) The amount of advance tax payable by an assessee in the financialyear shall, subject to the provisions of sub-sections (2) and (3), be computedas follows, namely :—(a) where the calculation is made by the assessee for the purposes ofpayment of advance tax under sub-section (1) or sub-section (2) orsub-section (5) or sub-section (6) of section 210, he shall first estimatehis current income and income-tax thereon shall be calculated at therates in force in the financial year;(b) where the calculation is made by the Assessing Officer for the purposeof making an order under sub-section (3) of section 210, the totalincome of the latest previous year in respect of which the assessee hasbeen assessed by way of regular assessment or the total incomereturned by the assessee in any return of income furnished by him forany subsequent previous year, whichever is higher, shall be taken andincome-tax thereon shall be calculated at the rates in force in thefinancial year;(c) where the calculation is made by the Assessing Officer for the purposeof making an amended order under sub-section (4) of section 210, thetotal income declared in the return furnished by the assessee for thelater previous year, or, as the case may be, the total income in respectof which the regular assessment, referred to in that sub-section hasbeen made, shall be taken and income-tax thereon shall be calculatedat the rates in force in the financial year;(d) the income-tax calculated under clause (a) or clause (b) or clause (c)shall, in each case, be reduced by the amount of income-tax which9. Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. Prior to thesubstitution by the said Amendment Act, section 208 was first substituted by the FinanceAct, 1969, w.e.f. 1-4-1969 and was later amended by the Finance Act, 1972, w.e.f. 1-4-1972,the Finance (No. 2) Act, 1977, w.e.f. 1-9-1977, the Finance Act, 1978, w.e.f. 1-6-1978, theFinance Act, 1979, w.e.f. 1-4-1979, the Finance (No. 2) Act, 1980, w.e.f. 1-9-1980, the FinanceAct, 1981, w.e.f. 1-6-1981, the Taxation Laws (Amendment) Act, 1984, w.e.f. 2-4-1985 andthe Finance Act, 1985, w.e.f. 24-5-1985.10. Substituted for “five thousand” by the Finance (No. 2) Act, 2009, w.r.e.f. 1-4-2009. Earlier“five thousand” was substituted for “one thousand five hundred” by the Finance (No. 2)Act, 1996, w.e.f. 1-10-1996.11. Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. Sub-section(1) was earlier amended by the Finance Act, 1963, w.e.f. 1-4-1963, the Finance Act, 1964,w.r.e.f. 1-4-1963, the Direct Taxes (Amendment) Act, 1964, w.e.f. 6-10-1964, the Finance Act,1965, w.e.f. 1-4-1965, the Finance (No. 2) Act, 1967, w.e.f. 1-4-1967, the Finance Act, 1969,w.e.f. 1-4-1969, the Taxation Laws (Amendment) Act, 1970, w.e.f. 1-4-1971, the Finance Act,1972, w.e.f. 1-4-1972, the Finance Act, 1973, w.e.f. 1-4-1973, the Finance Act, 1974, w.e.f.1-4-1974 and the Finance Act, 1978, w.e.f. 1-6-1978.