Form No. 7 is a Notice of Demand issued under Section 156 of the Income-tax Act, 1961, informing taxpayers about outstanding tax, interest, penalty, or other dues payable to the Income Tax Department. The notice specifies the amount due, payment deadline, and consequences of non-payment, including interest, penalties, or recovery proceedings. This form ensures timely compliance and provides instructions for payment or filing an appeal against the demand.
Source: https://incometaxindia.gov.in
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[MBA in Finance]
Nazim Khan is an expert in Microsoft Excel. He teaches people how to use it better. He has been doing this for more than ten years. He is running this website (TechGuruPlus.com) and a YouTube channel called "Business Excel" since 2016. He shares useful tips from his own experiences to help others improve their Excel skills and careers.
