Refundability of excess tax payments under Income Declaration Scheme now subject to government notification and specified conditions. Amendments empower the Central Government, by notification in the Official Gazette, to specify classes of persons and new payment dates for tax, surcharge and penalty unpaid by the original due date, permitting payment with interest at one per cent per month or part-month from the day after the original due date until payment; and to specify classes of persons to whom any amount paid in excess under the Scheme shall be refundable, with the amendment operating retrospectively from 1st June, 2016.
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.
Refundability of excess tax payments under Income Declaration Scheme now subject to government notification and specified conditions.
Amendments empower the Central Government, by notification in the Official Gazette, to specify classes of persons and new payment dates for tax, surcharge and penalty unpaid by the original due date, permitting payment with interest at one per cent per month or part-month from the day after the original due date until payment; and to specify classes of persons to whom any amount paid in excess under the Scheme shall be refundable, with the amendment operating retrospectively from 1st June, 2016.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
