1,2 (1) Tax shall be payable in advance during any financial year, in accordance with the provisions of sections 208 to 219 (both inclusive), in respect of the total income of the assessee which would be chargeable to tax for the assessment year immediately following that financial year, such income being hereafter in this Chapter referred to as current income.
3 (2) The provisions of sub-section (1) shall not apply to an individual resident in India, who
(a) does not have any income chargeable under the head Profits and gains of business or profession; and
(b) is of the age of sixty years or more at any time during the previous
year.
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1. Subs. by Act 4 of 1988, s. 76, for sections 207 and 208 (w.e.f. 1-4-1988). Earlier amended by Act 16 of 1972, s. 33 (w.e.f. 1-4-1972).
2. Section207 renumbered as sub-section (1) thereof by Act 23 of 2012, s. 82 (w.e.f. 1-4-2012).
3. Ins. by s. 82, ibid. (w.e.f. 1-4-2012).
Section 206CA Tax collection account number
Section 206CB Processing of statements of tax collected at source
Section 206CC Requirement to furnish Permanent Account Number by collectee
Section 207 Liability for payment of advance tax
Section 208 Conditions of liability to pay advance tax
Section 209 Computation of advance tax
Section 211 Instalments of advance tax and due dates