Section 416(5)(a) in The Income Tax Act, 2025

[Cites 0, Cited by 0] [Section 416(5)] [Section 416] [Entire Act]

Union of India - Subsection

Section 416(5)(a) in The Income Tax Act, 2025

(a)The Assessing Officer or Tax Recovery Officer may, at any time or from time to time, by notice in writing require any person—

(i)from whom money is due or may become due to the assessee; or

(ii)who holds or may subsequently hold money for or on account of the assessee, to pay to the Assessing Officer or Tax Recovery Officer—

(I)either forthwith upon the money becoming due or being held; or

(II)at or within the time specified in the notice (not being before the money becomes due or is held), so much of the money as is sufficient to pay the amount due by the assessee in respect of arrears or the whole of the money when it is equal to or less than that amount.

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Union of India - Subsection

Section 416(5)(a) in The Income Tax Act, 2025