Section 7A(3) in The Companies (Profits) Surtax Act, 1964
(3)The amount of advance surtax payable by an assessee in the financial year shall be computed as follows :(a)the chargeable amount of the latest previous year in respect of which the assessee has been assessed by way of regular assessment shall first be ascertained;(b)in a case where the chargeable amount of the latest previous year being a year later than the previous year referred to in clause (a) on the basis of which a provisional assessment has been made under section 7 exceeds the chargeable amount referred to in clause (a), the chargeable amount referred to in clause (a) shall be substituted by the chargeable amount on the basis of which such provisional assessment has been made;(c)surtax shall be calculated on the chargeable amount referred to in clause (a) or, as the case may be, in clause (b), at the rates specified in the Third Schedule.
