Failure to collect tax at source triggers a penalty equal to the uncollected tax, imposed by the Joint Commissioner. A new penal provision makes any person who fails to collect tax at source liable to pay, by way of penalty, a sum equal to the amount of tax not ... Summary
Failure to collect tax at source triggers a penalty equal to the uncollected tax, imposed by the Joint Commissioner.
A new penal provision makes any person who fails to collect tax at source liable to pay, by way of penalty, a sum equal to the amount of tax not collected; the penalty is to be imposed by the Joint Commissioner, establishing an administrative enforcement mechanism for tax collection failures.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.