ADVANCE TAX AND DEDUCTION OF TAX AT SOURCE
{"Image DocumentName": "ADVANCE TAX AND DEDUCTION OF TAX AT SOURCE", "Image ImageDescription": "Historical background & Concept of Advance Tax. The concept of Advance Tax was introduced in the sub-continent as a war measure to combat inflation and to with draw a part of the unprecedented amount in circulation. However in the case Prushottamdas vs CIT 48 ITR (SC) 206, 211; the honorable superior court has observed that like many other innovations in taxation legislation, this innovation also has outlived its exigency which gave it birth. It was further observed that Government rest on the principle of pay as you earn i.e. paying tax by instalments in respect of the income of the very year in which the tax is paid.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}