Condition of liability to pay advance tax
Condition of liability to pay advance tax.
208. (1) Advance tax shall be payable during the financial year—
(a) where the total income, 2[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 section 209, exceeds the amount specified in sub-section (2), or
(b) where it is payable by virtue of the provisions of sub-section (3) of section 212.
(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. 30,000 ; |
| (c) in the case of a person other than a company, a local authority or a registered firm,— | |
(i) where such person was not resident in India during the previous year referred to in sub-clause (i) of clause (a) of section 209 or such person being a person referred to in sub-section (3) of section 212 is not likely to be resident in India during the previous year relevant to the assessment year | ...Rs. 5,000; |
(ii) in any other case | ...Rs. 10,000. |
| For the existing clause (c) of sub-section (2), the following shall be substituted by the Finance (No. 2) Act, 1977, w.e.f. 1-9-1977 : | |
| (c) in any other case | ...Rs. 10,000. |
2. Substituted by the Finance Act, 1972, w.e.f. 1-4-1972.
[As Amended by the Finance (No. 2) Act, 1977]