Section 210 of ITA, 1961 : Section 210: Payment Of Advance Tax By The Assessee Of His Own Accord Or In Pursuance Of Order Of Assessing Officer

Explanation using Example

Let's say Ravi, a freelance software developer, expects to earn significant income during the financial year 2022-23. He knows that his income will exceed the threshold limit and he will be liable to pay income tax. Aware of the provisions of the Income-tax Act, 1961, Ravi decides to calculate his advance tax liability on his own accord as per Section 208. He estimates his income and, following Section 209, calculates the advance tax he needs to pay.

Now, as per Section 210(1), Ravi must pay the calculated advance tax in instalments as specified in Section 211, before the due dates. If during the year Ravi realizes that his income is higher t...

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