Section 5   [ View Judgements ]

CREDIT FOR SURCHARGE


Any sum paid by or recovered from a company as surcharge on income-tax in pursuance of this Act shall be treated as a payment of tax under the Income-tax Act in respect of the income of the period which would be the previous year for the assessment year commencing on the 1st day of April, 1972, and credit therefor shall be given to the company for the purposes of assessment under Section 140A,Section 141A,Section 143orSection 144 of the Income-tax Act Note:— The Act has served its purpose and has automatically ceased to exist. But as it relates to tax matter re companies, it has been retained in this set—Ed.

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