Pending professional review. This content was drafted with Claude from official sources and has not yet been reviewed by an ArthaKara professional. Verify against the official sources before relying on it.
Simple meaningIncome tax paid in instalments during the year instead of at the end.
Relevant ActIncome-tax Act, 1961
Section / ruleSections 207-211
Technical meaning
Tax payable in the same year in which income is earned, in instalments on prescribed dates, where liability is Rs 10,000 or more.
Practical example
A freelancer pays 15% of estimated tax by 15 June.
Related terms
- Self-assessment Tax
- Interest under 234B/234C
Official reference
Income-tax Act, 1961, Sections 207-211
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