Charge Of Additional Tax(sec.86)

Tuesday, December 10, 2013

2)(Sec.86)

      
            If the assessee fails to pay the tax  due on him,he will be liable to pay additional tax at the rate of 15 percent per annum on the amount paid from the date on which he was required to pay such tax to the date of the payment thereof. 


3)Failure To Pay Advance Tax (Sec.87)

         If the assessee fails to pay (i) any instalment ,(ii)on or before specified date,or(iii)full amount payable by him,he shall  



4)Failure To pay Tax With The Return (Sec.88)

                   If can assessee fails to pay tax under sec.54 or the tax so paid is less than the tax payable under this section,he shall be liable to pay additional tax at 15% per annum on the amount not paid and such additional tax shall be calculated from the first day of October.

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