Section 2(1) of Income Tax: Definition of ‘Advance Tax’

As per Section 2(1) of the Income Tax Act, 1961, unless the context otherwise requires, the term “Advance Tax” has the following Meaning/ Definition:

Section 2(1) of the Income Tax Act, 1961 

“Advance tax” means the advance tax payable in accordance with the provisions of Chapter XVII-C.

In this regard, it is important to note that Chapter XVII of the Income Tax Act of 1961, titled “Collection and Recovery of Tax,” contains provisions pertaining to the advance payment of tax. These provisions can be found in Part-C, which is labelled “Advance Tax” and contains the following sections:

Sections Subject Matter
207 Liability for payment of advance tax
208 Conditions of liability to pay advance tax
209 Computation of advance tax
209A Computation and payment of advance tax by assessee [Omitted]
210 Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing Officer
211 Instalments of advance tax and due dates
212 Estimate by assessee [Omitted]
213 Commission receipts [Omitted]
214 Interest payable by Government
215 Interest payable by assessee
216 Interest payable by assessee in case of under-estimate, etc.
217 Interest payable by assessee when no estimate made
218 When assessee deemed to be in default
219 Credit for advance tax

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