Thursday, 5 December 2013

Payment of self-assessment tax instantly on detection of default saves assessee from clutches of pen

IT : Where assessee filed return of income on 28-9-2009 and paid self-assessment tax under section 140A on 19-1-2010, since assessee had paid self-assessment tax immediately when fact regarding non-payment came to its notice, it was not liable for penalty to be levied under section 221(1)


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