What does Section 410 of the Income-tax Act, 2025 provide?

Section 410 provides that any sum, other than a penalty or interest, paid by or recovered from an assessee as advance tax under 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 shall be given in the regular assessment.

How is advance tax treated under Section 410?

Under Section 410, advance tax paid or recovered is treated as a payment of tax for the income of the tax year in which it was payable, and the assessee receives credit for it in the regular assessment.

Does Section 410 apply to penalty or interest amounts?

No. Section 410 specifically excludes penalty or interest; it applies only to sums paid or recovered as advance tax.

When is credit for advance tax given to the assessee under Section 410?

Credit for advance tax is given to the assessee in the regular assessment for the tax year in which the advance tax was payable.

Section 410 of Income-tax Act, 2025 – Credit for advance tax

The Income-tax Act, 2025

Chapter-XIX Collection and Recovery of Tax

C.––Advance payment of tax

Section 410: Credit for advance tax.

410. 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 such assessee in the regular assessment.

Section 410 of Income-tax Act, 2025 – Credit for advance tax

The Income-tax Act, 2025

Chapter-XIX Collection and Recovery of Tax

Section 410: Credit for advance tax.

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