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:

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

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