Section 380 Income Tax Act 2025 2.-Advance rulings Interpretation. 380. For the purposes of this Chapter,— (a) “advance ruling” means— (i) a determination by the Board for Advance Rulings in relation to a transaction which has been undertaken or is proposed to be undertaken by a non-resident applicant; or (ii) a determination by the Board for… Read More »
Section 379 Income Tax Act 2025 D. -Alternate Dispute Resolutions 1.-Dispute Resolution Committee in certain cases Dispute Resolution Committee. 379. (1) The Central Government shall constitute, one or more Dispute Resolution Committees, as per the rules made under this Act, for dispute resolution in the case of such persons or class of persons, as specified by… Read More »
How to do PAN correction after 1st April 2026 as per New Income Tax Rules 2026 How to do PAN correction after 1st April 2026 as per New Income Tax Rules 2026 Effective 1st April 2026, the Central Board of Direct Taxes (CBDT) has introduced new forms and procedures for PAN correction under the Income-tax… Read More »
Section 411 Income Tax Act 2025 D.-Collection and Recovery When tax payable and when assessee deemed in default. 411. (1) Any amount, otherwise than by way of advance tax, specified as payable in a notice of demand under section 289 at the place and to the person mentioned in the notice shall be paid within— (a) thirty days… Read More »
Section 407 Income Tax Act 2025 Payment of advance tax by assessee in pursuance of order of Assessing Officer. 407. (1) Where a person has already been assessed for the total income of any tax year by way of regular assessment and the Assessing Officer is of the opinion that such person is liable to pay… Read More »
Section 409 Income Tax Act 2025 When assessee is deemed to be in default. 409. A person shall be deemed to be an assessee in default, if such person— (a) does not pay on the date specified in section 408, any instalment of the advance tax that he is required to pay by an order of the… Read More »
Section 410 Income Tax Act 2025 Credit for advance tax. 410. Any sum, other than a penalty or interest, paid by or recovered from an assessee as advance tax in pursuance of this Part shall be treated as a payment of tax in respect of the income of the tax year in which it was payable,… Read More »
Section 404 Income Tax Act 2025 Conditions of liability to pay advance tax. 404. Advance tax shall be payable by the assessee during a financial year, where the amount of such tax payable during that year, as computed under this Part, is ₹ 10000 or more.
Section 403 Income Tax Act 2025 C.-Advance payment of tax Liability for payment of advance tax. 403. (1) Advance tax shall be payable during any financial year in respect of the current income of the assessee, as per the provisions of this Part. (2) For the purposes of this Part, “current income” of a tax year… Read More »
Section 402 Income Tax Act 2025 Interpretation. 402. For the purposes of this Chapter,— (1) “Administrator” shall have the same meaning as assigned to it in section 2(a) of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002); (2) “agricultural land” means agricultural land in India,— (a) not being a… Read More »