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Consequent to FM s Speech, CBDT Orders Write-off of Small Demands of up to Rs1 Lakh

The Central Board of Direct Taxes (CBDT), in an order last week, has asked the directorate of income tax (DIT) (systems) and central processing centre (CPC) to implement, preferably within two months, remission and extinguishment of small demands outstanding as of 31 January 2024.

Lok sabhaNirmala sitharamanCentral boardDirect taxesWealth tax actGift tax actIt actPending actionOutstanding demandExtinguished demandTax ratesSome reliefOldit demand noticesMutual fund returnsAnk fixed depositsNvestor returns

CBDT Sets Rs 1 Lakh Threshold Per Assessee for Withdrawal of Old Tax Demands

The Budget 2024-25 announced that tax demands for AY 2010-11 of up to Rs 25,000 and for AY 2011-12 to 2015-16 of up to Rs 10,000 will be withdrawn

Sanjay malhotraNirmala sitharamanManeesh bawaIncome tax departmentIncome taxAssessment yearCentral boardDirect taxesFinance minister nirmalaAndersen india partner maneesh bawaPending actionOutstanding demandExtinguished demandSecretary sanjay malhotraSsessee for withdrawalLd tax demands

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 bawaNirmala sitharamanSandeep sehgalCentral boardDirect taxesMinister nirmala sitharamanWealth tax actGift tax actIncome tax actTax deductedTax collectedNangia andersen indiaPending actionOutstanding demandExtinguished demand

I-T Refund: IT Department Urges Taxpayers To Respond To Past Tax Demands, Know How To Do It?

I-T Refund: IT Department Urges Taxpayers To Respond To Past Tax Demands, Know How To Do It?
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Income tax departmentHow to respond outstanding taxOutstanding demandPay tax

Income tax notice I 7 reasons you may get income tax notice & how to respond

Updated Jul 25, 2021 | 06:33 IST A discrepancy in TDS amount error, mismatch of information in the ITR filed, random scrutiny by I-T department, ITR not filed before the due date, high-value transactions, among others 7 reasons you may get income tax notice and how to respond | Photo Credit: Thinkstock The Income Tax Department processes the Income Tax Returns (ITRs) filed by assesses and send the intimation under Section 143(1) of the Income Tax Act, 1961. It is usually after this time that a taxpayer gets a notice, it at all from the taxman. If you happen to get a notice from the I-T Department, there is no need to panic. There are mainly a few reasons why someone receives such notice. It could be due to tax deducted at source (TDS) calculation error, discrepancies in the information provided by the assessee in the ITR, random checks by the department, missing the due date of filing ITR, high-value transactions, non-disclosure of incom

It departmentIncome tax departmentPhoto creditIncome tax returnsIncome tax actOutstanding demandஅது துறைவருமானம் வரி துறைபுகைப்படம் கடன்வருமானம் வரி வருமானம்வருமானம் வரி நாடகம்