Tax Authorities Can Demand Late Statements Within 30 Days Under Section 285BA(5) of Income Tax Act
Section 285BA(5) of the Income Tax Act allows tax authorities to issue a notice to individuals who fail to file the required statement within the prescribed time. Upon receiving this notice, the individual must submit the statement within a maximum of 30 days from the notice's service date. This provision ensures compliance by setting a specific timeframe for the submission of overdue statements.
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