https://www.taxtmi.com/manuals?id=5365 Section 398 treats a person who fails to deduct, collect, remit or otherwise pay required tax as an assessee in default. Default status is avoided where the recipient has filed a return, included the income, paid due tax, and the deductor or collector furnishes the prescribed accountant's certificate. Interest applies for failure to deduct, collect or remit tax. Unpaid tax and interest create a charge on the defaulter's assets. Orders are subject to prescribed limitation periods, while penalty requires satisfaction that the failure lacked good and sufficient reasons. en-us Fri, 18 Oct 2024 10:50:00 +0530 Sat, 29 Aug 2026 12:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=5365 Section 398 treats a person who fails to deduct, collect, remit or otherwise pay required tax as an assessee in default. Default status is avoided where the recipient has filed a return, included the income, paid due tax, and the deductor or collector furnishes the prescribed accountant's certificate. Interest applies for failure to deduct, collect or remit tax. Unpaid tax and interest create a charge on the defaulter's assets. Orders are subject to prescribed limitation periods, while penalty requires satisfaction that the failure lacked good and sufficient reasons. Manuals Income Tax Fri, 18 Oct 2024 10:50:00 +0530 https://www.taxtmi.com/manuals?id=5365