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CMA Intermediate · Direct and Indirect Taxation · Self-Assessment and Intimation

Under the Income-tax Act, 2025, an Assessing Officer may require a person already assessed by regular assessment to pay advance tax on a specified sum by a written order. By what latest date in a financial year can the first such order be passed?

The first order requiring advance tax from an already assessed person can be passed at any time during the financial year, but not later than the last day of February. It must then be followed by a notice of demand under section 289.

  1. ALast day of February of that financial yearCorrect
  2. B31st March of that financial year
  3. CThe 15th of March of that financial year
  4. DThe due date of the last instalment of advance tax

Explanation

Section 407(2) provides that the order may be passed at any time during the financial year but not later than the last day of February of that year. The order must be followed by a notice of demand. 31 March and 15 March are not the stated limits.

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