Interest charge procedure allocates pre- and post-recovery responsibilities, mandates amended certificates and separate tax and interest reporting. Interest must be charged by the I.T. Officer under section 220(2) up to the recovery certificate date and by the Tax Recovery Officer thereafter; amended recovery certificates under section 225(4) must be sent to the TRO where post-certificate revisions change demand, and the I.T. Officer must notify the TRO of tax payments under section 225(2). If further demand arises on appeal, revision or rectification, the I.T. Officer must seek recovery and issue further recovery certificates as necessary, with the same charging and reporting rules applying; the TRO must report collections separating tax and interest and distinguishing charges made by each officer.
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 charge procedure allocates pre- and post-recovery responsibilities, mandates amended certificates and separate tax and interest reporting.
Interest must be charged by the I.T. Officer under section 220(2) up to the recovery certificate date and by the Tax Recovery Officer thereafter; amended recovery certificates under section 225(4) must be sent to the TRO where post-certificate revisions change demand, and the I.T. Officer must notify the TRO of tax payments under section 225(2). If further demand arises on appeal, revision or rectification, the I.T. Officer must seek recovery and issue further recovery certificates as necessary, with the same charging and reporting rules applying; the TRO must report collections separating tax and interest and distinguishing charges made by each officer.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
