E-Payment is now madatory through the new Rule 125.
125. (1) The following persons shall pay tax electronically on or after the 1st day of April, 2008:-
(a) a company; and (b) a person (other than a company), to whom provisions of section 44AB are applicable.
No doubt this will be greatly beneficial for all. However, there are assessees at places where internet access is not readily available. Again, in these early days, many assessees could have already paid taxes through the non-electronic mode, through ignorance or oversight, although they are mandatorily required to e-pay their taxes.
What would be the consequences of such non-compliance?
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