Income Tax Act, 2025
Section 16: Subs. by Act 21 of 2006, s. 34, for clause (i) (w.e.f. 12007).
16. Subs. by Act 21 of 2006, s. 34, for clause (i) (w.e.f. 12007).
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(d) any relief of tax claimed under section 90A on account of tax paid in any specified
territory outside India referred to in that section; and
(e) any tax credit claimed to be set off in accordance with the provisions of
section 115JAA 1[or section 115JD];]
(ii) under section 115WK shall be computed on the amount of tax on the value of the fringe
benefits as declared in the return as reduced by the advance tax, paid, if any.]
(1B) For the purposes of sub-section (1), interest payable under section 234B shall be computed on an
amount equal to the assessed tax or, as the case may be, on the amount by which the advance tax paid
falls short of the assessed tax.
2[Explanation.—For the purposes of this sub-section, “assessed tax” means the tax on the total
income as declared in the return as reduced by the amount of,—
(i) tax deducted or collected at source, in accordance with the provisions of Chapter XVII, on any
income which is subject to such deduction or collection and which is taken into account in computing
such total income;
(ii) any relief of tax or deduction of tax claimed under section 90 or section 91 on account of tax
paid in a country outside India;
(iii) any relief of tax claimed under section 90A on account of tax paid in any specified territory
outside India referred to in that section; and
(iv) any tax credit claimed to be set off in accordance with the provisions of section
115JAA 1[or section 115JD].]]
(2) After a regular assessment under 3[section 115WE or section 115WF or section 143] or
section 144 4[or 5[an assessment under section 153A or section 158BC]] has been made, any amount paid
under sub-section (1) shall be deemed to have been paid towards such regular assessment 4[or assessment,
as the case may be].
6[(3) If any assessee fails to pay the whole or any part of such tax or interest or both in accordance
with the provisions of sub-section (1), he shall, without prejudice to any other consequences which he
may incur, be deemed to be an assessee in default in respect of the tax or interest or both remaining
unpaid, and all the provisions of this Act shall apply accordingly.]]
7[(4) The provisions of this section as they stood immediately before their amendment by the Direct
Tax Laws (Amendment) Act, 1987 (4 of 1988), shall apply to and in relation to any assessment for the
assessment year commencing on the 1st day of April, 1988, or any earlier assessment year and references
in this section to the other provisions of this Act shall be construed as references to those provisions as for
the time being in force and applicable to the relevant assessment year.]
141. [Provisional assessment.]—Omitted by the Taxation Laws (Amendment) Act, 1970, s. 28 (w.e.f.
11971).
141A. [Provisional assessment for refund.]—Omitted by the Direct Tax Laws (Amendment) Act,
1987, (w.e.f. 11989). Earlier section 141A was inserted by the Finance Act, 1968, s. 11 (w.e.f. 1
1968). Original section was inserted by the Finance Act, 1963, s. 9 (w.e.f. 11963) and omitted by the
Finance Act, 1964, s. 35 (w.e.f. 11964).
(w.e.f. 12007).
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any relief of tax claimed under section 90A on account of tax paid in any specified
territory outside India referred to in that section; and
any tax credit claimed to be set off in accordance with the provisions of
section 115JAA 1[or section 115JD];]
under section 115WK shall be computed on the amount of tax on the value of the fringe
benefits as declared in the return as reduced by the advance tax, paid, if any.]
For the purposes of sub-section
tax deducted or collected at source, in accordance with the provisions of Chapter XVII, on any
income which is subject to such deduction or collection and which is taken into account in computing
such total income;
any relief of tax or deduction of tax claimed under section 90 or section 91 on account of tax
paid in a country outside India;
any relief of tax claimed under section 90A on account of tax paid in any specified territory
outside India referred to in that section; and
any tax credit claimed to be set off in accordance with the provisions of section
115JAA 1[or section 115JD].]]
After a regular assessment under 3[section 115WE or section 115WF or section 143] or
section 144 4[or 5[an assessment under section 153A or section 158BC]] has been made, any amount paid
under sub-section
shall be deemed to have been paid towards such regular assessment 4[or assessment,
as the case may be].
6[
If any assessee fails to pay the whole or any part of such tax or interest or both in accordance
with the provisions of sub-section
The provisions of this section as they stood immediately before their amendment by the Direct
Tax Laws
Act, 1987 (4 of 1988), shall apply to and in relation to any assessment for the
assessment year commencing on the 1st day of April, 1988, or any earlier assessment year and references
in this section to the other provisions of this Act shall be construed as references to those provisions as for
the time being in force and applicable to the relevant assessment year.]
141. [Provisional assessment.]—Omitted by the Taxation Laws
Act, 1970, s. 28 (w.e.f.
11971).
141A. [Provisional assessment for refund.]—Omitted by the Direct Tax Laws
Act,
1987, (w.e.f. 11989). Earlier section 141A was inserted by the Finance Act, 1968, s. 11 (w.e.f. 1
1968). Original section was inserted by the Finance Act, 1963, s. 9 (w.e.f. 11963) and omitted by the
Finance Act, 1964, s. 35 (w.e.f. 11964).