Self-assessment requires payment of interest-tax and accrued interest before filing returns, with non-payment treated as default. A self-assessment regime requires the assessee to pay interest-tax and any interest for delay or default before filing the return and to furnish proof of payment; amounts paid are first adjusted to interest and then to interest-tax if insufficient. Payments made under this requirement shall be deemed payments towards any later assessment, and failure to pay the whole or part of interest-tax or interest renders the taxpayer an assessee in default with all attendant statutory consequences.
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.
Self-assessment requires payment of interest-tax and accrued interest before filing returns, with non-payment treated as default.
A self-assessment regime requires the assessee to pay interest-tax and any interest for delay or default before filing the return and to furnish proof of payment; amounts paid are first adjusted to interest and then to interest-tax if insufficient. Payments made under this requirement shall be deemed payments towards any later assessment, and failure to pay the whole or part of interest-tax or interest renders the taxpayer an assessee in default with all attendant statutory consequences.
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