Tax Recovery Officer by whom recovery is to be effected [Section 223] : (1) The Tax Recovery Officer competent to take action under section 222 shall be: (a) The Tax […]
All posts by Varun Gupta - 2. page
Professional Tax Consultant and Article Writer
Certificate to Tax Recovery Officer [Section 222] – Income Tax
Certificate to Tax Recovery Officer [Section 222] : (1) When an assessee is in default or is deemed to be in default in making a payment of tax the Tax Recovery […]
Penalty payable [Section 221] – Income Tax
Penalty payable [Section 221]: Where an assessee is in default in payment of tax including advance tax and interest payable thereon, the Assessing Officer sh all impose a penalty which in cases […]
Payment of tax and defaults by the assessee [Section 220] – Income Tax
Payment of tax and defaults by the assessee [Section 220] : (i) Under section 220(1), any amount specified as payable in a notice of demand under section 156 shall be paid […]
Fee for default in furnishing TDS/TCS Statements under Scheme of Mandatory Interest – Income Tax
Fee for default in furnishing TDS/TCS Statements under Scheme of Mandatory Interest : (1) A fee of Rs 200 for every day would be levied under section 234E for late furnishing of TDS/TCS […]
Interest on excess refund granted at the time of summary assessment [Section 234D] under Scheme of Mandatory Interest – Income Tax
Interest on excess refund granted at the time of summary assessment [Section 234D] under Scheme of Mandatory Interest : (1) Under section 143(4), where a regular assessment under section 143(3) or section […]
Interest for deferment of advance tax [Section 234C] under Scheme of Mandatory Interest – Income Tax
Interest for deferment of advance tax [Section 234C] under Scheme of Mandatory Interest : In the case of companies: It has been provided that the shortfall for the purpose of charging interest […]
Interest for defaults in payment of advance tax [Section 234B] under Scheme of Mandatory Interest – Income Tax
Interest for defaults in payment of advance tax [Section 234B] under Scheme of Mandatory Interest : 1. The assessee will be liable to pay interest at the rate of 1% for […]
Interest for defaults in furnishing return of income [Section 234A] under Scheme of Mandatory Interest – Income Tax
Interest for defaults in furnishing return of income [Section 234A] under Scheme of Mandatory Interest : 1. Where the return of income for any assessment year under sub-section 139(4) or in response […]
Advance Payment of Tax [Section 207 to 219] – Income Tax
Advance Payment of Tax [Section 207 to 219] : 1. Advance tax is payable in respect of all income including capital gains and casual income. 2. Under section 208, obligation to […]