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Bare acts > Income Tax Act, 1961 > Second Schedule: Procedure For Recovery of Tax
 
  


 


58. Procedure in default of payment.-
In default of payment within the period mentioned in the preceding rule, the deposit may, if the Tax Recovery Officer thinks fit, after defraying the expenses of the sale, be forfeited to the Government, and the property shall be resold, and the defaulting purchaser shall forfeit all claims to the property or to any part of the sum for which it may subsequently be sold.

 

 

 

 

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