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One lakh as money tax. This total should have been compensated in Just about every of the two previous monetary years for which the deadline to file return of earnings underneath subsection area 139(one) in the said Act has expired.
Purchasing alternative property involves better hazards than common investments which is ideal only for stylish investors. Choice investments tend to be marketed by prospectus that discloses all dangers, service fees, and expenditures. They don't seem to be tax effective and an Trader should really seek the advice of along with his/her tax advisor just before investing.
Ans. The limit of 1% is about the output tax liability only. Reverse cost payments can not be considered as payment of output taxes. Therefore, the Restrict of one% will exclude the portion of taxes which has been compensated under reverse cost.
Ans. One isn't going to need to cumulatively compute the taxable provides by merging values of the sooner thirty day period. One has to only discover the taxable materials of the present thirty day period to ascertain if it exceeds Rs. 50 lakhs. If Sure, one particular should comply with this provision.
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It is one of eleven fits submitted by box holders that search for the more info return of their assets and courtroom orders declaring the seizures unconstitutional.
Substitute investments have greater service fees than classic investments and they could also be hugely leveraged and engage in speculative financial investment tactics, which can Enlarge the potential for financial commitment loss or get and should not be deemed an entire investment decision program. The value with the investment decision may perhaps drop together with rise and investors may well get again less than they invested.
The case that agents constructed against the organization appeared to offer ample grounds to get a court to authorize seizure of the organization’s computers, safety cameras and other enterprise machines — such as the numerous Secure deposit containers lining its walls.
Should the registered human being under concern has discharged his legal responsibility to output tax by Digital cash ledger for an amount of money in excessive of one% cumulatively of the full output tax legal responsibility up to your claimed thirty day period in The present economic yr.
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