REGARDING AMOUNT OF DISPUTED DEMAND
This query is : Resolved
09 December 2024
IN FORM 35, AMOUNT OF GROSS TAX LIABILITY TAKEN INTO ACCOUNT OR WITH NET TAX LIABILITY AMOUNT (WITH INTERST UNDER SECTION 234) NEED TO TAKEN INTO ACCOUNT?
IF WE TAKE INTO CONSIDERATION, THE AMOUNT OF NET TAX LIABILITY (WITH INTEREST) THEN 20% IS PAYABLE ON TAX AMOUNT OR (TAX + INTEREST) AMOUNT.
IF WE TAKE INTO CONSIDERATION, THE AMOUNT OF NET TAX LIABILITY (WITH INTEREST) THEN 20% IS PAYABLE ON TAX AMOUNT OR (TAX + INTEREST) AMOUNT.
09 December 2024
When completing Form 35, include your net tax liability amount, i.e. the disputed tax liability.
09 December 2024
IF WE ONLY TAKE GROSS TAX LIABILITY, CAN LAW DEEMED THAT INTEREST AMOUNT ACCEPT BY ASSESSEE? AND OFFICER CAN UTILISE POWER GIVEN TO THEM UNDER SECTION 226(3) TO RECOVER INTEREST AMOUNT?
09 December 2024
No, the interest liability would be recalculated as per the tax liability assessed as per the appellate order.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Receipt of money upon selling Deceased Father's House
- Tax liability on compensation given by builder
- Regarding PPF account guidance
- Export of service and HSN Code
- Surplus TDS U/S 194M
- Regarding Form 71..
- 12A/12AA/80G
- GST on goods sold which will later be exported
- Tax Rate on maturity of ULIP
- Regarding applicability of 20% of outstanding demand
- Is bank account verify small transaction taxable?
- Refund of Tax Paid under RCM
- Probable mistake in tax calculator available at income tax website
- Advance Income Tax Query
- TDS intimitation u/s200A of Income tax Act 1961
- ABOUT INPUT TAX CREDIT AVAILABILITY
- Removal of a director from a company
- Installation & Freight charges is not included on EWay Bill material amount
- GSTR-9 AND ITC REVERSE AND RECLAIM
- Unable to fill Table 12 - HSN - wise summary of outward supplies
Trending Online Classes
-
6 days Certification Course on GST Practical Return Filing Process
CA Pratibha Goyal16 December 2024
CAclubindia
