02-18-2009, 06:20 PM
Dear
Such "assesse in default" status become crystalized if the amount could not be received from the person whose liability it was. Normally this does not happen. However, there are penal clauses which also become applicable if some tax authority scrutinize the details.
The supplier should deposit the amounts under FTR as I mentioned in previous post. He will not be assessed since he is in FTR.
Regards,
KAMRAN.
Such "assesse in default" status become crystalized if the amount could not be received from the person whose liability it was. Normally this does not happen. However, there are penal clauses which also become applicable if some tax authority scrutinize the details.
The supplier should deposit the amounts under FTR as I mentioned in previous post. He will not be assessed since he is in FTR.
Regards,
KAMRAN.