§ 410
Chapter XIX — Collection And Recovery Of Tax
Credit for advance tax
Income-tax Act, 2025
Any advance tax paid (excluding penalties or interest) is treated as tax for the year it was due. The amount is credited to the assessee during the regular assessment of that year.
📜 Official text of the section +
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, and
credit therefor shall be given to such assessee in the regular assessment.
D.—Collection and Recovery
When tax payable and when assessee deemed in default.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.