Payment schedule for income declaration requires staged instalments under amended rules; non-payment renders declaration void. The rules require proof under rule 4(5) to be of full and final payment and prescribe a three stage payment schedule for amounts due under Form 1: minimum 25% by 30 November 2016, at least 50% of the remaining balance by 31 March 2017, and the remaining balance by 30 September 2017; non payment as specified causes the Form 1 declaration to be void. Form 3 is substituted to require detailed intimation of payments by period, attachment of challans/TDS/TCS proofs, and a declarant verification confirming inclusion of related income and entitlement to claim credit.
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Payment schedule for income declaration requires staged instalments under amended rules; non-payment renders declaration void.
The rules require proof under rule 4(5) to be of full and final payment and prescribe a three stage payment schedule for amounts due under Form 1: minimum 25% by 30 November 2016, at least 50% of the remaining balance by 31 March 2017, and the remaining balance by 30 September 2017; non payment as specified causes the Form 1 declaration to be void. Form 3 is substituted to require detailed intimation of payments by period, attachment of challans/TDS/TCS proofs, and a declarant verification confirming inclusion of related income and entitlement to claim credit.
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