Income-tax Act,1961
Act No : 43
Section :
When assessee deemed to be in default.
8[218. When assessee deemed to be in default If any assessee does not pay on the date specified in sub-section (1) of ----------------------------------------------------------------------- 1 Substituted for "twelve" by the Taxation Laws (Amendment) Act, 1984, w.e.f. 1-10-1984. Section 84 of the Amendment Act has clarified that the increase in the rate of interest will apply in respect of any period falling after 30-9-1984, also in those cases where the interest became chargeable or payable from an earlier date. Earlier, 'twelve' was substituted for 'nine' by the Finance Act, 1972, w.e.f. 1-4-1972 which was substituted for "six" by the Taxation Laws (Amendment) Act, 1967, w.e.f. 1-10-1967. 2 Substituted for "sub-section' by the Finance Act, 1978, w.e.f. 1- 6-1978. 3 Inserted by the Finance Act, 1969, w.e.f. 1-4-1970. 4 Substituted for 'Income-tax' by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. 5 Inserted by the Finance Act, 1978, w.e.f. 1-6-1978. 6 Substituted for "twelve" by the Taxation Laws (Amendment) Act, 1984, w.e.f. 1-10-1984. Section 84 of the Amendment Act has clarified that the increase in the rate of interest will apply in respect of any period falling after 30-9-1984, also in those cases where the interest became chargeable or payable from an earlier date. Earlier, "twelve" was substituted for "nine" by the Finance Act, 1972, w.e.f. 1-4-1972 which was substituted for "six" by the Taxation Laws (Amendment) Act, 1967, w.e.f. 1-10-1967. 7 Substituted for "sub-section" by the Finance Act, 1978, w.e.f. 1- 6-1978. 8 Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. Prior to the substitution, section 218, as substituted by the Finance Act, 1978, w.e.f. 1-6-1978 and amended by the Finance Act, 1979, w.e.f. 1-4-1979, read as under: 8[218. When assessee deemed to be in default.-(1) If any assessee has sent,- (a) under sub-section (1) of section 209A, a statement, or (b) under section 209A or section 212, an estimate or a revised estimate, of the advance tax payable by him, but does not pay any instalment in accordance therewith on the date or dates specified in section 211, he shall be deemed to be an assessee in default in respect of such instalment or instalments. (2) If any assessee does not pay on the specified date any instalment of advance tax that he is required to pay under section 210 and does not, on or before the date on which any such instalment as is not paid becomes due, send under sub-section (1) -> -> ----------------------------------------------------------------------- 1.664 section 21 1, any instalment of advance tax that he is required to pay by an order of the Assessing Officer under sub-section (3) or sub- section (4) of section 210 and does not, on or before the date on which any such instalment as is not paid becomes due, send to the Assessing Officer an intimation under sub-section (5) of section 210 or does not pay on the basis of his estimate of his cur-rent income the advance tax payable by him under sub-section (6) of section 210, he shall be deemed to be an assessee in default in respect of such instalment or instalments.]
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