Gurantor liability in case of tax demand not recovered
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2014
my client give guarantee of his plot in surety bond when taking TIN no. of his relative , now tax demand raised under assessment by department and same plot my client have mortgage to bank for taking loan .
how to safe client assets if guarantee invoked.
in surety bond there are clause not mortgage /sale/donate the same asset.
please guide me what liability possible to my client .
how to safe client assets if guarantee invoked.
in surety bond there are clause not mortgage /sale/donate the same asset.
please guide me what liability possible to my client .
13 August 2014
His liability is equal to the amount of guarantee give by him.
Department can recover the tax due from him but his liability should not exceed the amount of guarantee given by him.
Department can recover the tax due from him but his liability should not exceed the amount of guarantee given by him.
13 August 2014
His liability is equal to the amount of guarantee give by him.
Department can recover the tax due from him but his liability should not exceed the amount of guarantee given by him.
Department can recover the tax due from him but his liability should not exceed the amount of guarantee given by him.
13 August 2014
his liability as amount mention is surety bond. amount will be given by the owner.
and in dispute case sale deptt. recovery first due to as you mention you cannot mortgage/donate/sale the same property.
and in dispute case sale deptt. recovery first due to as you mention you cannot mortgage/donate/sale the same property.
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