Section-410: Credit for advance tax

Section-410 : Credit for advance tax

Section-410 seeks to provide for giving credit for advance tax paid by or recovered from an assessee as a payment of tax in respect of the income of the tax year. Learn to understand the section-410 as it is, it's help and useful links to follow.

Here onwards, "Act" refers to "Income Tax Act 2025"

1. Section-410 as per act

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.