Interest on delayed securities transaction tax accrues monthly on unpaid tax until it is credited to the government account. Failure to remit securities transaction tax into the Central Government account within the prescribed period obliges the assessee to pay interest on the tax or any part remaining uncredited, with interest accruing for each month or part of a month by which the crediting is delayed.
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.
Interest on delayed securities transaction tax accrues monthly on unpaid tax until it is credited to the government account.
Failure to remit securities transaction tax into the Central Government account within the prescribed period obliges the assessee to pay interest on the tax or any part remaining uncredited, with interest accruing for each month or part of a month by which the crediting is delayed.
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