TMI Blog2019 (1) TMI 1019X X X X Extracts X X X X X X X X Extracts X X X X ..... ny of the installments of payment of tax. Section 187 which pertains to time for payment of tax, in subsection (3) provides that if the declarant fails to pay the tax, surcharge and penalty in respect of the declaration made before the dates specified under subsection (1), the declaration filed by him shall be deemed never to have made under the scheme. These are strong indications that the le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r is an individual. The legislature framed the said Scheme, 2016 in the Finance Act, 2016 giving opportunity to certain defaulters to make a declaration with respect to undisclosed income. Subject to fulfillment of the conditions contained in the scheme, the declarant would get immunity from further proceedings. The Scheme envisaged payments of tax on the basis of the declaration as per the terms ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... payment of any of the installments of payment of tax. In fact, Section 187 which pertains to time for payment of tax, in subsection (3) provides that if the declarant fails to pay the tax, surcharge and penalty in respect of the declaration made before the dates specified under subsection (1), the declaration filed by him shall be deemed never to have made under the scheme. These are strong indica ..... X X X X Extracts X X X X X X X X Extracts X X X X
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