Direct tax payment remains payable where withholding is absent or ineffective, with deferred payment available for eligible start-up share awards. Section 391 requires an assessee to pay income-tax directly where income is not subject to tax deduction at source or where required tax has not been ... Summary
Direct tax payment remains payable where withholding is absent or ineffective, with deferred payment available for eligible start-up share awards.
Section 391 requires an assessee to pay income-tax directly where income is not subject to tax deduction at source or where required tax has not been deducted. Employees receiving specified securities or sweat equity shares from an eligible start-up may pay tax under the deferred mechanism in section 289(3). A deductor or specified employer that fails to deduct, deposit or pay tax, where the assessee also fails to pay directly, is deemed to be an assessee in default and may face consequential interest, penalty and prosecution.
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