Surcharge-induced shortfall exemption: surcharge-related shortfalls excluded from penal provision if paid by the stipulated compliance deadline. The amendment inserts a proviso excluding from section 234C any shortfall in tax on returned income that is solely attributable to an increase in the rate of surcharge, provided the assessee pays that surcharge-related shortfall by the stipulated compliance deadline in respect of the advance tax instalments due in June, September and December 2000.
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.
Surcharge-induced shortfall exemption: surcharge-related shortfalls excluded from penal provision if paid by the stipulated compliance deadline.
The amendment inserts a proviso excluding from section 234C any shortfall in tax on returned income that is solely attributable to an increase in the rate of surcharge, provided the assessee pays that surcharge-related shortfall by the stipulated compliance deadline in respect of the advance tax instalments due in June, September and December 2000.
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