Any sum, other than a penalty or interest, paid by or recovered from an assessee as advance tax in pursuance of this Chapter shall be treated as a payment of tax in respect of the income of the period which would be the previous year for an assessment for the assessment year next following the financial year in which it was payable, and credit therefor shall be given to the assessee in the regular assessment. 1 * * * * *
----------------------
1. The proviso omitted by s. 126, ibid. (w.e.f. 1-4-1989).
Section 216 Interest payable by assessee in case of under-estimate, etc
Section 217 Interest payable by assessee when no estimate made
Section 218 When assessee deemed to be in default
Section 219 Credit for advance tax
Section 220 When tax payable and when assessee deemed in default
Section 221 Penalty payable when tax in default
Section 222 Certificate to Tax Recovery Officer
Section 223 Tax Recovery Officer by whom recovery is to be effected
Section 224 Validity of certificate and cancellation or amendment thereof
Section 225 Stay of proceedings in pursuance of certificate and amendment or cancellation thereof