Regarding applicability of 20% of outstanding demand
This query is : Resolved
07 December 2024
In case of appeal against income tax order, on which amount 20% applicable whether on Gross Tax liability or Net tax liability (Gross Tax liability plus interest adjustments)?
07 December 2024
According to the Central Board of Direct Taxes (CBDT) circulars, this requirement has evolved over time, with the current standard being a 20% deposit on the disputed tax demand as a condition for obtaining a stay on recovery during the appeal process. When appealing an income tax order, the 20% deposit applies strictly to the disputed gross tax liability and excludes any interest unless that interest itself is part of what is being contested.
07 December 2024
In nutshell, we need to pay 20% of "total disputed demand" we mentioned in form 35?
08 December 2024
Correct.
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