Recovery

Income Tax Act provides wide powers of recovery to assessing officer and tax recovery officer (TRO) . .Most common action for recovery of demand is attachment of bank accounts u/s 226 of the Income Tax Act of assessee.

Pay 15% of Disputed Demand to Get A Stay till Disposal of Appeal

Based on recommendation of tax simplification committee report  CBDT has now modified the earlier on stay of disputed demand . The new instruction has...
attachment

10 Investments That Can’t Be Attached by ITO or TRO!

When any tax is raised by an income tax authority  , the usual payment time allowed to assessee is thirty days from service of...
tax clearance certificate

How to Get Tax Clearance Certificate Valid for 5 Years !

In previous post on tax clearance certificate under Income Tax Act , it was brought before readers , that expatriates in India are required...
waiver of interest

How to Apply for Waiver of Interest Charged U/s 234A , 234B & 234C...

Income Tax Act provides that if an assessee does not file return within due date , he will have to pay interest under section...
loan defaulter

Loan Defaulter /Guarantor Beware ! CBDT Directs CCITs for Supplying Wealth Tax Info to...

Non Performing Asset is a very big problem for Indian banks , specially public sector banks. So ,banks are  paying special  attention to recover...
advance tax

A Large Number of Assessees Do Not Require to Deposit Advance Tax !

In the month of March , you will find many advertisement from Income Tax Department as well as the banks regarding the 15th March...

Connect

1,977FollowersFollow
2,938FollowersFollow
874SubscribersSubscribe

Would you like to install our new app ?