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Querist : Anonymous

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Querist : Anonymous (Querist)
03 November 2010 Hello Everyone,

This is Atul here, this is with the reference of the one of our client, They did not paid the Dividend Tax on the last year paid dividend.

Now my questions is that should I ask them to pay the penalty @1% or Is there any more Interest or Penalty they have to pay
Please Suggest!!!!!!
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
03 November 2010 For the time being, pay tax and interest. However,the Joint Commissioner can initiate penalty proceedings under section 271C after serving show cause notice to the company. If penalty is imposed, then think about the payment.
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taxindiaconnect

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taxindiaconnect (Expert)
03 November 2010 Agreed with BC sir, no penalty as of now.
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CA Punit

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CA Punit (Expert)
03 November 2010 agreed..
penalty is to be paid only when demanded & not in anticipation.
only tax & interest right now

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