Interest for default in furnishing retrun of tax basis.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... cent. per month, in circumstances specified in sub-section (2) for the period mentioned in sub-section (3) on the amount computed under sub-section (4). (2) The circumstances referred to in sub-section (1) shall be - (a) where the return of tax-bases for any financial year under sub-section (1) or sub-section (6) of section 144 or sub-section (1) of section 146 is furnished after the due date....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ediately following the due date and— (i) end on the date of furnishing of the return; or (ii) end on the date of completion of assessment under section 156 or section 159, where no return has been furnished; (b) in a case referred to in clause (c) of sub-section (2), shall commence on the date immediately following the last date of the time allowed under the notice referred in said clause ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ax allowed under section 291 on account of tax paid in a country or specified territory outside India; (iv) any deduction, from the Indian income-tax payable, allowed under section 207, on account of the tax paid in a country outside India; and (v) any tax credit available for set-off under section 106; (b) in a case referred to in clause (c) of sub-section (2), shall be the amount by which ....