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a) Notice of
Demand :
The assessing officer can serve a notice to any tax, interest , fine or
any other sum in consequence of any order passed under the income tax
act.
b) Intimation of Loss :
When in course of the assessment of the total income of any assessee,
it is established that a loss has taken place which the assessee is
entitled to have carried forward and set off against the income in
subsequent years, the assessing officer shall notify to the assessee by
a written order for the amount of the loss as computed by him for the
purposes of carry forward and set off.
c) Collection and Recovery :
The amount specified in the notice of demand shall be paid within 30
days of the service of the notice at the place and to the person
mentioned in the notice. If the assessing officer has any reason to
believe that it will be derterimental to revenue if the full period of
30 days is allowed he may, with the prior approval of the deputy
commissioner reduce the period as he thinks fit.
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