§ 406
Chapter XIX — Collection And Recovery Of Tax
Payment of advance tax by assessee on his own accord
Income-tax Act, 2025
Any person liable to pay advance tax must do so voluntarily, based on their estimate of current income, using the calculation method in section 405. Payments must be made by the due dates of each instalment as listed in section 408.
The taxpayer can revise the amount of tax for later instalments if the estimate changes, adjusting the remaining payments accordingly.
📜 Official text of the section +
406. (1) Every person, who is liable to pay advance tax under section 404
(whether or not he has been previously assessed by way of regular assessment)
shall, on his own accord, pay advance tax on the specified sum, calculated in the
manner laid down in section 405, at the appropriate percentage, on or before the
due date of each instalment, as specified in section 408.
(2) A person who pays any instalment or instalments of advance tax under sub-sec-
tion (1), may increase or reduce the amount of advance tax payable in the remain-
ing instalment or instalments to accord with specified sum and the advance tax
payable thereon, and make payment of the said tax in the remaining instalment or
instalments accordingly.
(3) For the purposes of this section, the expression “specified sum” means current
income as estimated by the assessee.
Payment of advance tax by assessee in pursuance of order of Assessing Officer.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.