Deepak Tapse (Accounts Manager - Taxation) (1771 Points)
07 March 2011Our Bank is asking for Income Tax Clearance Cerfificate u/s 281 for morgauge loan purpose. My question is whether we have to apply to income tax for ITCC, As per my knowledge the section 281 is removed, but still bank is asking for the same Pl advise
Thanks
kanagaraj
(CHARTERED ACCOUNTANT)
(793 Points)
Replied 07 March 2011
Dear Deepak,
The clearance certificate are not issued by the dept. The sections are meant to be utilized by the officers in case of attachment of any property. You can talk to the bankers at present no ITC are issued. Only the ITR acknowlegdement issued is clearance certificates.
regards
CAclubindia
