alleryStart learning →Under Section 49(8), which dues are discharged first?
ACurrent period self-assessed tax
BSelf-assessed dues of earlier periods
CDemand under Section 73 or 74
DPenalty of the current period
Answer & Solution
Correct answer: B. Self-assessed dues of earlier periods
Section 49(8) orders discharge starting with self-assessed tax and dues of previous tax periods.
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