https://www.taxtmi.com/circulars?id=4494 A statutory surcharge on advance tax for the financial year 1971-72 must be paid by companies on their own motion by the due date and is to be treated as payment of income-tax for the relevant assessment year, with credit for self-assessment, provisional assessment and regular assessment. Non-payment by the due date makes the company a deemed assessee in default liable for simple interest and applicable penalty and recovery provisions. The surcharge is a separate levy and is excluded from computations under provisions that govern interest and penalty related to advance tax. en-us Tue, 08 Aug 1972 00:00:00 +0530 Wed, 30 Jul 2008 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4494 A statutory surcharge on advance tax for the financial year 1971-72 must be paid by companies on their own motion by the due date and is to be treated as payment of income-tax for the relevant assessment year, with credit for self-assessment, provisional assessment and regular assessment. Non-payment by the due date makes the company a deemed assessee in default liable for simple interest and applicable penalty and recovery provisions. The surcharge is a separate levy and is excluded from computations under provisions that govern interest and penalty related to advance tax. Circulars Income Tax Tue, 08 Aug 1972 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4494