Income declaration scheme 2016 - The self assessed tax and ...

Self-Assessed and Advance Tax Payments Not Allowed to Offset Tax Liabilities for Undisclosed Income Under 2016 Scheme.

March 26, 2019

Case Laws Income Tax HC

Income declaration scheme 2016 - The self assessed tax and advance tax cannot be transposed for the purpose of discharging the liability to pay tax, surcharge or penalty by a declarant of undisclosed income under the said scheme.

View Source

← Previous Next →

Income declaration scheme 2016 - The self assessed tax and ...

Self-Assessed and Advance Tax Payments Not Allowed to Offset Tax Liabilities for Undisclosed Income Under 2016 Scheme.

March 26, 2019

Case Laws Income Tax HC

You may also like:

Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

Withdrawing the excess tax credit for advance tax and self-assessment tax - Rectification u/s 154 - The assessee has to furnish details of different payments of tax by...

The Appellate Tribunal dismissed the appeal u/s 249(4)(b) due to non-payment of advance tax. The assessee did not respond to the notice u/s 142(1) to clarify tax payment....

The High Court held that petitioners are entitled to pay 10% of the disputed GST amount as a pre-condition for filing an appeal by debiting the amount available in the...

Advance tax payment obligation does not apply when assessee claims agricultural land sale proceeds are exempt u/s 2(14). CIT(Appeals) should admit appeal for...

Interest u/s 234C - interest for deferment of advance tax - If on a particular due date for payment of advance tax, the facts show that there is no liability to pay...

Self Adjustment of excess service tax paid with the service tax liabilities for subsequent period - Service tax amount paid at higher rate for the service tax...

Tax free payments - TDS liability born by the assessee - the TDS, as exigible on payments, is grossed up, and payment made accordingly - deduction on account of tax...

Interest liability u/s 234A, 234B, 234C - Cash seized during the search - To be treated as Advance Tax or not - In this case, as ROI was filed, though after the search....

Interest u/s 234B - Shortfall in payment of advance tax - TDS was not deducted on the income received by the payer - prior to the financial year 2012-13, the amount of...

Waiver of interest - interest liability should be computed from the last date for payment of tax in the relevant assessment year up to the date of payment at the same...

During a 2014 search operation, seized cash adjustment against advance tax liability was denied per Section 132B and Explanation 2. ITAT held that while self-assessment...

The Income Tax Appellate Tribunal held that when the assessing officer considered undisclosed income based on seized material, they ought to have also considered...

Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

Claim for credit in respect of advance tax paid by a declarant under the Scheme, 2016 - character of the advance tax - the overriding effect of Sections 184 and 185 is...

Quick Updates: