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Statutory provisions attracted on failure to deposit tax in government account after deduction

Where the employee has deducted the tax at source but failed to deposit wholly or partly, the tax so deducted in government account, the following statutory provisions are attracted:- Interest u/s 201(1A)– The deductor is treated as an assessee in default and interest u/s 201(1A) is leviable @1.5% for every month or part of the […]

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