Assessee in default designation applies where required tax deduction or payment is not made, making officers and companies liable. The amendment declares that where required tax is not deducted or the assessee has not paid the tax directly, the person required to deduct, the principal officer and the company shall be deemed to be an assessee in default, without prejudice to any other consequences they may incur, thereby subjecting them to the recovery mechanism applicable to assessee-in-default status for unpaid withholding tax.
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.
Assessee in default designation applies where required tax deduction or payment is not made, making officers and companies liable.
The amendment declares that where required tax is not deducted or the assessee has not paid the tax directly, the person required to deduct, the principal officer and the company shall be deemed to be an assessee in default, without prejudice to any other consequences they may incur, thereby subjecting them to the recovery mechanism applicable to assessee-in-default status for unpaid withholding tax.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
