Tax u/s 140a
This query is : Resolved
20 February 2012
Can tax u/s 140A be recovered before the date of assessment , if it is not paid along with return filed u/s 153A of the Act?
Can tax u/s 140A be recovered before the date of assessment , if it is not paid along with return filed u/s 153A of the Act?
20 February 2012
Yes. If tax u/s 140A is not paid till the date of filing the return, the assessee will be "deemed to be an assessee in default" as per sub section 3 of the said section, meaning thereby recovery proceedings can be initiated vide section 222(1) of the Income tax Act,1961 though assessment is pending.
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