Page 49 - P6 Slide Taxation - Lecture Day 4
P. 49

PAYMENT AND RECOVERY OF DIVIDENDS TAX (S 64K)






      What will happen if the co/regulated intermediary fails to pay


      it over?



      • The co/regulated intermediary will be held liable for the tax as if it


           was a tax due by itself.



      • If the beneficial owner pays the dt, the co/regulated intermediary


           will be relieved from the liability.




      Are there penalties & interest on late payment? Who will be


      liable?



      • Interest @ prescribed rate is applicable to late payments.



      • Administrative penalties applies at the late/no-submission of


           returns
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