Income tax outstanding demand: The Central Board of Direct Taxes (CBDT) has stated via a order that the income tax department has started waiving eligible old tax demand. However a maximum ceiling limit per taxpayer/assessee has been set and no outstanding tax demand entries above this ceiling limit would be extinguished.
The Central Board of Direct Taxes (CBDT) has extended the deadline for income tax audit report submission by a fund, educational institution, hospitals and others to October 31, 2023 from September 30, 2023. However for those individuals with business or professional income above the specific limits, the deadline remains the same i.e. September 30, 2023.