TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to Section 206C: New Proviso Requires Interest Payment for Tax Collection Defaults Effective April 2022.</h1> Clause 62 of the Finance Bill, 2022 proposes an amendment to section 206C of the Income-tax Act, 1961, which concerns the collection of tax at source on profits from trading in items like alcoholic liquor, forest produce, and scrap. The amendment introduces a new proviso to sub-section (7), stipulating that if the Assessing Officer issues an order for defaults under sub-section (6A), the liable person must pay interest as directed by the order. This change, addressing failures to collect or deposit tax, is effective from April 1, 2022.
TaxTMI 
TaxTMI 
