Equalisation levy notice: demands payment within prescribed period, prescribes interest, penalty, recovery and appeal routes. Notice of demand under the Equalisation Levy Rules informs a taxpayer of a determined payable amount, requires payment to an authorised bank within the prescribed period (subject to authorised shorter period), and encloses a challan. Non payment attracts simple interest on arrears, potential penalty after opportunity to be heard, and initiation of recovery proceedings under income tax recovery provisions. Procedural instructions cover cheque payment, requests for extension or instalments to the Assessing Officer before the payment deadline, and prescribed appellate routes and forms where the amount arises from an appellate order.
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.
Equalisation levy notice: demands payment within prescribed period, prescribes interest, penalty, recovery and appeal routes.
Notice of demand under the Equalisation Levy Rules informs a taxpayer of a determined payable amount, requires payment to an authorised bank within the prescribed period (subject to authorised shorter period), and encloses a challan. Non payment attracts simple interest on arrears, potential penalty after opportunity to be heard, and initiation of recovery proceedings under income tax recovery provisions. Procedural instructions cover cheque payment, requests for extension or instalments to the Assessing Officer before the payment deadline, and prescribed appellate routes and forms where the amount arises from an appellate order.
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