Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Statutory Provisions

Home Acts & Rules Bill Bills FINANCE BILL, 2016 Chapters List Chapter VIII EQUALISATION LEVY This

Clause 164 - Furnishing of statement - FINANCE BILL, 2016

FINANCE BILL, 2016
Chapter VIII
EQUALISATION LEVY
  • Contents

Furnishing of statement

164. (1) Every assessee shall, within the prescribed time after the end of each financial year, prepare and deliver or cause to be delivered to the Assessing Officer or to any other authority or agency authorised by the Board in this behalf, a statement in such form, verified in such manner and setting forth such particulars as may be prescribed, in respect of all specified services during such financial year.

(2) An assessee who has not furnished the statement within the time prescribed under sub-section (1) or having furnished a statement under sub-section (1), notices any omission or wrong particular therein, may furnish a statement or a revised statement, as the case may be, at any time before the expiry of two years from the end of the financial year in which the specified service was provided.

(3) Where any assessee fails to furnish the statement under sub-section (1) within the prescribed time, the Assessing Officer may serve a notice upon such assessee requiring him to furnish the statement in the prescribed form, verified in the prescribed manner and setting forth such particulars, within such time, as may be prescribed.

 



 

Notes on Clauses:

Clause 164 of the Bill provides for furnishing of statement by the assessee responsible for deduction of equalisation levy , of a statement in the prescribed form and prescribed manner and setting-forth such particulars as maybe prescribed in respect of all specified services entered into during a financial year.

 
 
 
 

Quick Updates:Latest Updates