Furnishing of statement requirement under equalisation levy mandates prescribed reporting of specified services and revision rights. The provision requires assessees liable for equalisation levy to prepare and deliver a furnishing of statement for all specified services during each ... Summary
Furnishing of statement requirement under equalisation levy mandates prescribed reporting of specified services and revision rights.
The provision requires assessees liable for equalisation levy to prepare and deliver a furnishing of statement for all specified services during each financial year, in the prescribed form and manner, to the Assessing Officer or any authority authorised by the Board; a right to furnish or revise the statement exists within two years from the end of the financial year in which the service was provided, and the Assessing Officer may issue a notice requiring submission where the statement is not furnished on time.
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