Gurantor liability in case of tax demand not recovered

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2014 my client give guarantee of his plot in surety bond when taking TIN no. of his relative , now tax demand raised under assessment by department and same plot my client have mortgage to bank for taking loan .
how to safe client assets if guarantee invoked.

in surety bond there are clause not mortgage /sale/donate the same asset.

please guide me what liability possible to my client .

CA UMESH DULAL

CA UMESH DULAL (Expert)
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13 August 2014 His liability is equal to the amount of guarantee give by him.

Department can recover the tax due from him but his liability should not exceed the amount of guarantee given by him.

CA UMESH DULAL

CA UMESH DULAL (Expert)
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13 August 2014 His liability is equal to the amount of guarantee give by him.

Department can recover the tax due from him but his liability should not exceed the amount of guarantee given by him.

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Rupesh Jain

Rupesh Jain (Expert)
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13 August 2014 his liability as amount mention is surety bond. amount will be given by the owner.

and in dispute case sale deptt. recovery first due to as you mention you cannot mortgage/donate/sale the same property.