137. Penalty for default in payment of tax.-

137.Penalty for default in payment of tax.- 

(1) Where an assessee is in default or  is  deemed  to  be  in  default  in  making  payment  of  tax,  the  Deputy Commissioner of Taxes may direct that, in addition to the amount of tax in arrears, a sum not exceeding that amount shall be recovered from the assessee by way of penalty.

(2) Where, as a result of any final order, the amount of tax, with respect to the default  in  the  payment  of  which  the  penalty  was  levied,  has  been  wholly reduced, the penalty levied shall be cancelled and the amount of penalty paid shall be refunded.

About Author

Golden Bangladesh

Golden Bangladesh is a point of access to information.We present information from diverse sources in a unified way. It is the leading web portal, e-Directory and business guide in Bangladesh.