74. Payment of tax on the basis of return.-

74. Payment of tax  on the basis of return.-

¹[(1) Every person who is required to  file  a  return  under  section  75,  77,  78,  89(2),  91(3)  or  93(1)  shall,  on  or before the date on which he files the return, pay the amount of tax  payable  by him on the basis of such return or as  per provision ²[sub-section(4)of section 82C] of section 16CCC, which ever is higher, as reduced by the amount of any tax deducted from his income or paid by him in accordance with the provisions of this Chapter.]

(2) Any amount paid under sub-section (1) shall be deemed to have been paid towards  the  sum  as  may  be  determined  to  be  payable  by  him  after  regular assessment.
(3) A person who, without reasonable cause, fails to pay the tax as required by sub-section (1) shall be deemed to be an assessee in default.

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¹ Subs. by F. A. 2014

² Subs. by F. A. 2016

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