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sriram   25 April 2016

Income tax clarification

Dear Users,

Pls help in clearing my clarifications I have got on the I.T ,

1. Should the notice / orders issued by IT Dept  to the Party (who is answerable to I.T) via Registered Post , be duly signed and received by the party or is it valid if Son signs it on the partys behalf and get it. Incase if the registed post is NOT received by the Party on hand shall the Party claim rights to inform that he has not got the notice / order from IT. 

2. I was informed that for the for the settlement I.T has agreed upon from the Party , the Party can pay 20%  of the amt and appeal further. Does that means that appealing will solve/close the case or just a way to buy time.

3. Assuming that IT has imposed a penalty of X amt from the Party for being defaulter. And the party has paid some amount and have got Stay from Court . Shal the I.T has power to revise the penalty amt from X to Y (upgrade) later on for being defaulter + interest  + penalty.

 

Pls suggest your insight on this.

 

Regardss.

Sri



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