Direct tax liability arises when withholding is unavailable or fails, while eligible start-up employee share taxation is deferred. Section 391 requires an assessee to pay income-tax directly where no tax-deduction-at-source provision applies or where tax required to be deducted has ... Summary
Direct tax liability arises when withholding is unavailable or fails, while eligible start-up employee share taxation is deferred.
Section 391 requires an assessee to pay income-tax directly where no tax-deduction-at-source provision applies or where tax required to be deducted has not been deducted. Employees receiving specified securities or sweat equity shares from an eligible start-up are subject to deferred tax payment in accordance with section 289(3). Where the deductor or relevant employer fails to deduct or pay tax and the assessee also fails to discharge the liability directly, that person is deemed to be an assessee in default, without prejudice to consequential interest, penalty and prosecution.
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