Condition of liability to pay advance tax
22[Condition of liability to pay advance tax.
208. (1) Advance tax shall be payable during the financial year—
(a) where the total income, exclusive of capital gains 23[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) 24[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 25[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 | ... | 1[Rs. 20,000 ;] |
| 2[(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.3[18,000] | ... | Rs. 12,000; |
| (d) | in any other case | ... | Rs. 3[18,000].]] |
24[(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.]
22. Substituted by the Finance Act, 1969, w.e.f. 1-4-1969.
23. Inserted by the Finance Act, 1972, w.e.f. 1-4-1972.
24. Inserted by the Taxation Laws (Amendment) Act, 1984, w.e.f. 2-4-1985.
25. Substituted for “sub-section (3) of section 212” by the Finance Act, 1978, w.e.f. 1-6-1978.
1. Substituted for “Rs. 30,000” by the Finance Act, 1979, w.e.f. 1-4-1979.
2. Substituted for “(c) in any other case ... Rs. 12,000” by the Finance Act, 1981, w.e.f. 1-6-1981. “(c) in any other case ... Rs. 12,000”was substituted for) in any other case... Rs. 10,000” by the Finance (No. 2) Act, 1980, w.e.f. 1-9-1980. The original clause came into being as a result of substitution by the Finance (No. 2) Act, 1977, w.e.f. 1-9-1977.
3. Substituted for “15,000” by the Finance Act, 1985, w.e.f. 24-5-1985.
[AS AMENDED BY THE FINANCE ACT, 1986]