Section - 208

Conditions of liability to pay advance tax

47 [Conditions of liability to pay advance tax.

208. Advance tax shall be payable during a financial year in every case where the amount of such tax payable by the assessee during that year, as computed in accordance with the provisions of this Chapter, is 48 [five thousand] rupees or more.]

47. Substituted for the following section 208 by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988:

"(1) Advance tax shall be payable during the financial year—

( a) where the total income, exclusive of capital gains and income referred to in sub-clause (ix) of clause (24) of section 2, of the assessee, referred to in sub-clause (i) of clause (a) of sub-section (1) of section 209, exceeds the amount specified in sub-section (2), or

( b) where it is payable by virtue of the provisions of section 209A.

(2) The amount referred to in clause (a) of sub-section (1) shall be—

(a)	in the case of a company or a local authority	Rs. 2,500
(b)	in the case of a registered firm	Rs. 20,000
(c)	in the case of a Hindu undivided family which at any time during the previous year has at least one member whose total income of the previous year exceeds Rs. 18,000	Rs. 12,000
(d)	in any other case	Rs. 18,000.

(3) Notwithstanding anything contained in the foregoing provisions of this section, where in the case of an assessee referred to in clause (c) or clause (d) of sub-section (2), the amount of advance tax payable by him during the financial year, as computed in accordance with the provisions of this section, does not exceed fifteen hundred rupees, it shall not be necessary for such assessee to pay any advance tax during that financial year."

Prior to the substitution by the said Amendment Act, section 208 was first substituted by the Finance Act, 1969, w.e.f. 1-4-1969 and was later amended by the Finance Act, 1972, w.e.f. 1-4-1972, the Finance (No. 2) Act, 1977, w.e.f. 1-9-1977, the Finance Act, 1978, w.e.f. 1-6-1978, the Finance Act, 1979, w.e.f. 1-4-1979, the Finance (No. 2) Act, 1980, w.e.f. 1-9-1980, the Finance Act, 1981, w.e.f. 1-6-1981, the Taxation Laws (Amendment) Act, 1984, w.e.f.2-4-1985 and the Finance Act, 1985, w.e.f. 24-5-1985.

Section 208

Conditions of liability to pay advance tax

Footnotes