payment of deman u/s in insatalment u/s 220(3)

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Laxmikant agrawal (Querist)
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31 January 2011 dear experts
i want to know that if make tax demand u/s 156 in installment as per the provision of Sec 220(3)than how the payment will be adjusted by the income tax department whether it will first adjusted against interest as per the provision of sec 140A explanation or it will be propertionatly adsusted agains income tax demanded and interest payable.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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31 January 2011 Instalment payment will be adjusted towards interest first and the balance will be setoff against the principal portion of the demand raised.

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Laxmikant agrawal

Laxmikant agrawal (Querist)
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01 February 2011 thanks sir, further i want the section reference.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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01 February 2011 Explanation to section 140A can be followed.

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