Sec 281

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swasti (Querist)
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11 September 2012 A company is going to create second charge over its immovable assets by some consortium banks. The company is not having any tax liability & no tax proceedings pending. Is it still required by the company to seek permission from the Assessing officer U/s 281. Please guide, its urgent.

Aalok Chhaperwal

Aalok Chhaperwal (Expert)
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11 September 2012 under the Companies Act, no where it is required.
It is only the requirement of Banks/FIs.

swasti

swasti (Querist)
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11 September 2012 Is it required u/s 281 of the Income Tax Act 1961 or not particularly if the company is not having any tax liability ?

Aalok Chhaperwal

Aalok Chhaperwal (Expert)
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13 September 2012 not required.....

swasti

swasti (Querist)
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13 September 2012 Thanks Sir.

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