Credit for advance tax
[As per the Income Tax Act, 2025 (this Act) w.e.f. 1st April, 2026.]
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 the assessee in the regular assessment.
