IT Act 1961 115Q — When company is deemed to be in default

Income-tax Act, 1961

Statutory text

If any principal officer of a domestic company and the company does not pay tax on distributed profits in accordance with the provisions of section 115O, then, he or it shall be deemed to be an assessee in default in respect of the amount of tax payable by him or it and all the provisions of this Act for the collection and recovery of income-tax shall apply. *] [

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