The order stated that the outstanding demands for remission should pertain to income, wealth, and gift tax. The upper ceiling of Rs 1 lakh for remission includes tax demand, interest, penalty if any, and cess and surcharge.
CBDT Sets Rs 1 Lakh Threshold Per Assessee For Withdrawal Of Old Tax Demands ibcworldnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ibcworldnews.com Daily Mail and Mail on Sunday newspapers.
CBDT sets Rs 1 lakh threshold per assessee for withdrawal of old tax demands dailyexcelsior.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyexcelsior.com Daily Mail and Mail on Sunday newspapers.
The CBDT order lays down the details of the scheme announced in the last budget which said tax demands for AY 2010-11 of up to Rs 25,000 and for AY 2011-12 to 2015-16 of up to Rs 10,000 will be withdrawn
The Central Board of Direct Taxes (CBDT) has set a ceiling of ₹1 lakh per assessee for the withdrawal of small tax demands until the 2015-16 assessment year.