Advance tax default expands section 234C scope to treat non-payment by liable assessees as a trigger for default consequences. The amendment inserts language into section 234C to make the section applicable where the assessee who is liable to pay advance tax under section 208 has failed to pay such tax, thereby linking section 234C's default consequences to advance-tax non-payment; the insertion is deemed effective from the stated retrospective date.
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Advance tax default expands section 234C scope to treat non-payment by liable assessees as a trigger for default consequences.
The amendment inserts language into section 234C to make the section applicable where the assessee who is liable to pay advance tax under section 208 has failed to pay such tax, thereby linking section 234C's default consequences to advance-tax non-payment; the insertion is deemed effective from the stated retrospective date.
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