Skip to main content
Taxes

Undue hardship

An extension of time to make tax payments is only granted when a taxpayer can prove that making the payment on the due date would result in a significant financial loss. This requirement is known as undue hardship and is necessary for the extension to be approved. Without a valid reason for the extension, taxpayers are expected to make their payments on time to avoid any potential financial consequences.

Related terms

Gross profits tax

Understand the meaning and definition of Gross profits tax in the context of stock market, trading, and investments.

MORE
Loophole

Understand the meaning and definition of Loophole in the context of stock market, trading, and investments.

MORE
Debtor

Understand the meaning and definition of Debtor in the context of stock market, trading, and investments.

MORE
Abatement

Understand the meaning and definition of Abatement in the context of stock market, trading, and investments.

MORE
Source of income

Understand the meaning and definition of Source of income in the context of stock market, trading, and investments.

MORE
Compensatory stock options

Understand the meaning and definition of Compensatory stock options in the context of stock market, trading, and investments.

MORE

Open Free Demat Account!

Join our 3.5 Cr+ happy customers

+91
Explore other categories
Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS

Enjoy Zero Brokerage On Stock Investments

Get the link to download the App

Scan this QR code to download the app
Get it on Google PlayDownload on the App Store

Open Free Demat Account!

Join our 3.5 Cr+ happy customers
+91