Section 211 of Income Tax Act "Installments of advance tax and due dates"
211. (1) Advance tax on the current income calculated in
the manner laid down in section 209 shall be payable by-
(a) all the assessees, other than the assessee referred to
in clause (b), 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 the Table below:
| Due Date of Installment | Amount Payable |
|
On or before 15th June |
Note Less than 15% of Such Advance Tax |
|
On or before 15th September |
Note Less than 45% of Such Advance Tax, reduced by the amount paid in the last installment or installments |
|
On or before 15th December |
Note Less than 75% of Such Advance Tax, reduced by the amount paid in the last installment or installments |
|
On or before 15th March |
Note Less than 100% of Such Advance Tax, reduced by the amount paid in the last installment or installments |
(b) an assessee who declares profits and gains in
accordance with the provisions of sub-section (1) of section
44AD or sub-section (1) of section 44ADA, as the case may
be, to the extent of the whole amount of such advance tax
during each financial year on or before the 15th March:
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.