GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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By serving a notice of his intention, assessing officer can consider any person as the principal officer of a company only if
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Such person is an agent of that company
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Such person is a director of that company
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Such person is a major shareholder of that company
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Such person is connected with the management or administration
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Explanation:
Detailed explanation-1: -An assessing officer is a key figure in the tax system. They are responsible for ensuring that taxpayers declare their income correctly and calculate their tax liability. They also have the power to investigate cases of suspected tax evasion and impose penalties.
Detailed explanation-2: -Under the said Act, the principal officer is responsible for compliance including, (a) payment of proper taxes; (b) filing of proper returns; and (c) for all consequences for non-compliance of any of the provisions of the said Act.
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