Payment of tax on settlement requires prompt payment; interest accrues on unpaid amounts and recovery and penalties may follow. Payment under a settlement order must be made within thirty days; the Settlement Commission may extend time or allow instalments with adequate security; interest accrues on unpaid amounts from the expiry of the payment period until payment despite any extension or instalment arrangement; tax authorities may recover the sums and interest under recovery provisions and may impose penalties for default.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Payment of tax on settlement requires prompt payment; interest accrues on unpaid amounts and recovery and penalties may follow.
Payment under a settlement order must be made within thirty days; the Settlement Commission may extend time or allow instalments with adequate security; interest accrues on unpaid amounts from the expiry of the payment period until payment despite any extension or instalment arrangement; tax authorities may recover the sums and interest under recovery provisions and may impose penalties for default.
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