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[Cites 0, Cited by 0] [Section 3] [Entire Act]

State of Bihar - Subsection

Section 3(1) in Bihar Settlement of Taxation Disputes Act, 2016

(1)where the dispute relates to proceeding till financial year 2004-05, the settlement amount shall be at the rate specified in column (3) of the amount of dispute as mentioned in column (2) of the Table- I, and where the dispute relates to proceeding from financial year 2005-06 to financial year 2011-12, the settlement amount shall be as per Table-II below :-Table - I
Sl. No. Particularsof the dispute SettlementAmount
1 2 3
1 Dispute arising out ofnon-submission of Form-IXC or Form IX in support of any claimpreferred under Part I of the Bihar Finance Act, 1981. Ten percent of disputed amount oftax.
2 Where the amount of arrear tax indispute does not exceed Rs. 10,00,000 (Ten Lakh) other thanmentioned in Sl. No. 1. Twenty five percent of arrear taxin dispute
3 Where the amount of arrear tax indispute exceeds Rs. 10,00,000 (Ten Lakh) but does not exceed Rs.1,00,00,000(one crore) other than mentioned in Sl. No. 1. Rs. 2,50,000 (Two Lakh fiftythousand) plus thirty two percent of the amount by which theamount of arrear tax in dispute exceeds Rs. 10,00,000 (Ten Lakh).
4 Where the amount of arrear tax indispute exceeds Rs. 1,00,00,000 (one crore) other than mentionedin Sl. No. 1. Rs. 31,30,000 (Thirty one Lakhthirty thousand) plus forty percent of the amount by which theamount of arrear tax in dispute exceeds Rs. 1,00,00,000 (onecrore).
5 For dispute arising out of an orderlevying penalty or interest under the law Ten percent of disputed amount ofpenalty or interest, as the case may be
Table - II
Sl. No. Amount of arrear in dispute On payment made within one month from the dateof commencement of this Act
1 2 3
1 For the amount of arrear tax in dispute does notexceed Rs. 10,00,000 (Ten Lakh). Twenty eight percent of arrear tax in dispute
2 For the amount of arrear tax in dispute exceedsRs. 10,00,000 (Ten Lakh) but does not exceed Rs. 1,00,00,000 (onecrore). Rs. 3,00,000 (Three Lakh) plusthirty seven percent of the amount by which the amount of arreartax in dispute exceeds Rs. 10,00,000 (Ten Lakh) .
3 For the amount of arrear tax in dispute exceedsRs. 1,00,00,000 (one crore). Rs. 36,30,000 (Thirty six Lakhthirty thousand) plus forty five percent of the amount by whichthe amount of arrear tax in dispute exceeds Rs. 1,00,00,000 (onecrore).
4 For dispute arising out of an order levyingpenalty or interest under the law Ten percent of disputed amount of penalty orinterest, as the case may be
Explanation I. - Settlement amount shall not include payment of admitted tax and the party shall deposite total amount of admitted tax.Explanation II. - If a party wishing to settle a dispute, has already deposited any amount of dispute which is equal or more than the settlement amount, before the commencement of this settlement scheme, the said amount would be considered as payment of settlement amount. Although the amount deposited in excess of the settlement amount will not be refunded.Explanation III. - If a party wishing to settle a dispute, has deposited any amount of dispute before the commencement of this settlement scheme, the said amount would be considered as payment of settlement amount and the party will have to pay the difference amount only.