Regarding Demand Tax
This query is : Resolved
FOUNTAIN HEAD PVT LTD
(Querist)
21 December 2022
Depatment demand us tax @ 33% for non accepting 10IC form. turnover only between 10 to 15 crore.
what should we do for revise demand tax 25%
what should we do for revise demand tax 25%
CA R SEETHARAMAN
(Expert)
21 December 2022
If filed within due date go for appeal.
The synopsis of the Central Board of Direct Taxes (CBDT) Circular No. 06/2022 Dated 17th March 2022 is as follows:
CBDT has directed that the delay in filing this form for 2020-21 assessment years is condoned in cases where certain conditions are met.
The deadline to file the Form which is required to be submitted with the Income Tax Returns to get the concessional corporate tax rate has been extended to 30 June 2022.
Businesses can submit this form electronically before the due date.
CBDT also announced that failure to submit this form would lead to denial of the concessional 22% tax rate.
The synopsis of the Central Board of Direct Taxes (CBDT) Circular No. 06/2022 Dated 17th March 2022 is as follows:
CBDT has directed that the delay in filing this form for 2020-21 assessment years is condoned in cases where certain conditions are met.
The deadline to file the Form which is required to be submitted with the Income Tax Returns to get the concessional corporate tax rate has been extended to 30 June 2022.
Businesses can submit this form electronically before the due date.
CBDT also announced that failure to submit this form would lead to denial of the concessional 22% tax rate.
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