https://www.taxtmi.com/article/detailed?id=10204 Insurance companies are designated collectors and remitters of STT on equity oriented units in ULIPs they purchase, obliged to collect at the prescribed rate, remit monthly to the Central Government, and file an annual electronic return in Form 2A signed by an authorised managing or whole time director. Failures to collect, pay or file attract interest, daily monetary penalties (subject to caps), assessment within the statutory limitation, rectification procedures, refund obligations, and potential criminal liability for false verification. Income tax procedural and recovery provisions are applied to STT matters. en-us Tue, 25 Jan 2022 17:12:51 +0530 Tue, 25 Jan 2022 17:12:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10204 Insurance companies are designated collectors and remitters of STT on equity oriented units in ULIPs they purchase, obliged to collect at the prescribed rate, remit monthly to the Central Government, and file an annual electronic return in Form 2A signed by an authorised managing or whole time director. Failures to collect, pay or file attract interest, daily monetary penalties (subject to caps), assessment within the statutory limitation, rectification procedures, refund obligations, and potential criminal liability for false verification. Income tax procedural and recovery provisions are applied to STT matters. Articles Income Tax Tue, 25 Jan 2022 17:12:51 +0530 https://www.taxtmi.com/article/detailed?id=10204