Section 80 - Substitution of new section for section 211 - Direct Tax Laws (Amendment) Act, 1987

80. Substitution of new section for section 211. For section 211 of the Income-tax Act, the following section shall be substituted with effect from the 1st day of April, 1988, namely: - 211. Instalments of advance tax and due dates. (1) Advance tax on the current income, calculated in the manner laid down in section 209 shall be payable by all the assessees who are liable to pay the same in three instalments during each financial year, the due date of, and the amount payable in, each such instalment being as specified in the following Table: TABLE Due date of instalment Amount payable On or before the 15th September Not less than twenty per cent. of such advance tax. On or before the 15th December Not less than fifty per cent. of such advance tax, as reduced by the amount, if any, paid in the earlier instalment On or before the 15th March The whole amount of such advance tax as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments: Provided that any amount paid by way of advance tax on or before the 31st day of March shall also be treated as advance tax paid during the financial year ending on that day for all the purposes of this Act. (2) If the notice of demand issued under section 156 in pursuance of an order of the Assessing Officer under sub-section (3) or sub-section (4) of section 210 is served after any of the due dates specified in sub-section (1), the appropriate part or, as the case may be, the whole of the amount of the advance tax specified in such notice shall be payable on or before each of such of those dates as fall after the date of service of the notice of demand. .