Section 172:Whether Interest u/s 234B & 234C Can Be Charged ?

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The assessee is a non-resident company incorporated in the Republic of Malta and in the previous year, relevant to assessment year 1996-97 was engaged in shipping business in international traffic. Special provisions of section 172 of the Income-tax Act (hereinafter called ?Act?) were applicable and assessee paid or made necessary arrangement for payment of taxes…

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The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.

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