Want conceptual clarity
This query is : Resolved
krishna Patel
(Querist)
12 August 2011
Hello Experts,
Can anyone explain me about "garnishee orders" issued by Additional Commissioner of Income-Tax(ACIT).
When and why this order has been issued and what is the concept of this order???
Thank you in advance.
Can anyone explain me about "garnishee orders" issued by Additional Commissioner of Income-Tax(ACIT).
When and why this order has been issued and what is the concept of this order???
Thank you in advance.
CA PARAS BAFNA
(Expert)
12 August 2011
Basically, such orders are issued by the tax authorities to recover tax amount of an assessee.
.
By issuing such orders amount can be recovered from third parties like the debtors or borrowers of the assessee or from the assets of the assessee.
.
When the assessee does not pay tax, such orders can be issued to recover the tax amount.
.
By issuing such orders amount can be recovered from third parties like the debtors or borrowers of the assessee or from the assets of the assessee.
.
When the assessee does not pay tax, such orders can be issued to recover the tax amount.
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krishna Patel
(Querist)
12 August 2011
Thank you sir for explaining in such a nice way...
thnx a lot......
thnx a lot......
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