Report No. 12
219. Instalments of advance tax.-
(1) Subject to the provisions of this section and of section 220 [18A(2) and 18A(3)], advance tax shall be payable in equal instalments on the 15th day of June, 15th day of September, 15th day of December and 15th day of March in the financial year:
[Section 18A(1)(a), main para., earlier half, part]
Provided that, where the previous year of the assessee in respect of any source of income ends after the 31st day of December and before the 30th day of April....the advance tax on that source of income shall, subject as aforesaid, be payable in three equal; instalments on the 15th day of September, the 15th day of December and the 15th day of March, respectively.
[Section 18A(1)(a), 1st proviso]
(2) If the notice of demand issued under section 163 [29] in pursuance of the order under section 218 [section 18A(1)(a), main para., earlier half, part relating to order of Income-tax Officer] is served after any of the dates on which the instalments specified therein are payable, the advance tax shall be payable in equal instalments on each of such of those dates as fall after the date of the service of the notice of demand, or in one sum on the 15th day of March if the notice is served after the 15th day of December.
[Section 18A(1)(b)]
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