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CBDT sets ₹1 lakh threshold per assessee for withdrawal of old tax demands

CBDT sets ₹1 lakh threshold per assessee for withdrawal of old tax demands
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Nirmala sitharamanSanjay malhotraManeesh bawaIncome tax departmentIncome taxAssessment yearCentral boardDirect taxesFinance minister nirmalaAndersen india partner maneesh bawaPending actionOutstanding demandExtinguished demandSecretary sanjay malhotra

Income Tax Department Sets Rs 1 lakh Threshold Per Assessee for Withdrawal of Old Tax Demands

The CBDT order said that such outstanding tax demands pertaining to income tax, wealth tax and gift tax as on January 31, 2024, shall be remitted and extinguished "subject to the maximum ceiling of Rs 1 lakh for any specific taxpayer/assessee"., Personal Finance News, Times Now

Nirmala sitharamanSanjay malhotraManeesh bawaIncome tax department sets rsIncome tax departmentThreshold per assesseeGold taxImage sourceIncome taxAssessment yearCentral boardDirect taxesFinance minister nirmalaAndersen india partner maneesh bawaPending actionOutstanding demand

CBDT sets Rs 1 lakh threshold per assessee for withdrawal of old tax demands

CBDT sets Rs 1 lakh threshold per assessee for withdrawal of old tax demands
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Withdrawal of small IT demands not to entail credit, refund, says IT Dept

Withdrawal of small IT demands not to entail credit, refund, says IT Dept
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Maneesh bawaSandeep sehgalNirmala sitharamanCentral boardDirect taxesMinister nirmala sitharamanWealth tax actGift tax actIncome tax actTax deductedTax collectedNangia andersen indiaPending actionOutstanding demandExtinguished demand

Pending income tax demand of up to Rs 1 lakh per individual waived All the details

The limit of Rs 1 lakh would include principal component of tax demand, interest, penalty or fee, cess, surcharge. However, the remission shall not be applicable on the demands raised against the tax deductors or tax collectors under TDS or TCS provisions of the I-T Act.

Maneesh bawaSanjay malhotraNirmala sitharamanIncome tax departmentIncome taxAssessment yearCentral boardDirect taxesFinance minister nirmalaAndersen india partner maneesh bawaPending actionOutstanding demandExtinguished demandSecretary sanjay malhotraTax waiverNcome tax waiver