Interest tax accounting changed: separate major head established with specified minor/subheads and registers to be amended. With effect from 1-4-1982 interest tax collections must be recorded under a separate major head 024 Interest Tax, comprising three minor heads: collection under the Interest Tax Act, other receipts, and receipts awaiting transfer. Specified subheads include advance interest tax from banks, ordinary collections, and deduct refunds; miscellaneous collections and deduct refunds under other receipts; and a reference for transfers to the corporation head. Correction slips to the schedule of heads will be issued and central daily collection registers must be amended before use in the current financial year.
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Interest tax accounting changed: separate major head established with specified minor/subheads and registers to be amended.
With effect from 1-4-1982 interest tax collections must be recorded under a separate major head 024 Interest Tax, comprising three minor heads: collection under the Interest Tax Act, other receipts, and receipts awaiting transfer. Specified subheads include advance interest tax from banks, ordinary collections, and deduct refunds; miscellaneous collections and deduct refunds under other receipts; and a reference for transfers to the corporation head. Correction slips to the schedule of heads will be issued and central daily collection registers must be amended before use in the current financial year.
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