Income Tax Act 2023
Section 157 - Failure to pay Instalments of Advance Tax
(as updated till Finance Act 2024)
Where, an assessee who is required to pay advance tax, fails to pay any instalment of such tax, as originally computed or, as the case may be, estimated, on the due date, he shall be deemed to be an assessee-in-default in respect of such instalment.
Disclaimer: This is the authentic English text of the Income Tax Act 2023, as published under SRO No. 404-Law/2025 dated 08 October 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.