India - Income Tax Act 2010 - Saarc

1.793 CH. XVII - COLLECTION AND RECOVERY - ADVANCE PAYMENT OF TAX S. 211in the manner laid down in section 209, and issue to such person a notice ofdemand under section 156 specifying the instalment or instalments in whichsuch tax is to be paid.(4) If, after the making of an order by the Assessing Officer under sub-section (3)and at any time before the 1st day of March, a return of income is furnished bythe assessee under section 139 or in response to a notice under sub-section (1) ofsection 142, or a regular assessment of the assessee is made in respect of aprevious year later than that referred to in sub-section (3), the Assessing Officermay make an amended order and issue to such assessee a notice of demandunder section 156 requiring the assessee to pay, on or before the due date or eachof the due dates specified in section 211 falling after the date of the amendedorder, the appropriate percentage, specified in section 211, of the advance taxcomputed on the basis of the total income declared in such return or in respectof which the regular assessment aforesaid has been made.(5) A person who is served with an order of the Assessing Officer under subsection(3) or an amended order under sub-section (4) may, if in his estimationthe advance tax payable on his current income would be less than the amountof the advance tax specified in such order or amended order, send an intimationin the prescribed form 23 to the Assessing Officer to that effect and pay suchadvance tax as accords with his estimate, calculated in the manner laid down insection 209, at the appropriate percentage thereof specified in section 211, on orbefore the due date or each of the due dates specified in section 211 falling afterthe date of such intimation.(6) A person who is served with an order of the Assessing Officer under subsection(3) or amended order under sub-section (4) shall, if in his estimation theadvance tax payable on his current income would exceed the amount of advancetax specified in such order or amended order or intimated by him under subsection(5), pay on or before the due date of the last instalment specified in section211, the appropriate part or, as the case may be, the whole of such higher amountof advance tax as accords with his estimate, calculated in the manner laid downin section 209.]24[Instalments of advance tax and due dates. 25211. 26 [(1) Advance tax on the current income calculated in the manner laiddown in section 209 shall be payable by—(a) all the companies, who are liable to pay the same, in four instalmentsduring each financial year and the due date of each instalment andthe amount of such instalment shall be as specified in Table I below :23. See rule 39 and Form No. 28A for form of estimate of advance tax.24. Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. Earlier, it wasamended by the Finance Act, 1969, w.e.f. 1-4-1969, the Finance Act, 1972, w.e.f. 1-4-1972and the Finance Act, 1978, w.e.f. 1-6-1978.25. See Circular No. 676, dated 14-1-1994. For details, see Taxmann’s Master Guide to IncometaxAct.26. Substituted by the Finance Act, 1994, w.e.f. 1-4-1994. Prior to its substitution, sub-section(1) was substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988 andlater amended by the Finance Act, 1992, w.e.f. 1-4-1992.