Advance tax deduction reduces the tax base for computing interest on late return filings; authorities must apply this to pending cases. Advance tax paid by registered firms is to be deducted in computing the tax amount on which interest for delayed return filing is charged; the Board ... Summary
Advance tax deduction reduces the tax base for computing interest on late return filings; authorities must apply this to pending cases.
Advance tax paid by registered firms is to be deducted in computing the tax amount on which interest for delayed return filing is charged; the Board accepts the High Court view and directs its application to pending proceedings, permitting relief in completed proceedings where lawful.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
