Income Tax Demand

Refund of Excess amount paid- Dispute Resolution Scheme, 2016

Income Tax - The Dispute Resolution Scheme, 2016 has been introduced through Union Budget, 2016. The scheme has been brought with the object to collect tax arrears, clear pendency of appeals, achieve reduction in administrative costs etc. In most of the cases apart from filing appeal, the demand amount, either partly or fully, is generally deposited ...

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How CBDT plans to add new Taxpayers in 2016-17

Income Tax - The key result areas for widening of tax-base are as under: (i) Improving compliance to TDS/TCS Provisions (ii) Effective collection of information about high value transactions (iii) Efficient handling of information without valid PAN (iv) Ensuring compliance from identified non-filers through various methods...

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CBDT Strategy for Recovery of Arrears of Tax Demand for 2016-17

Income Tax - Since the very beginning, the focus needs to be on the reduction of Arrear Demand by de-duplication of the entries and cleansing the arrear demand data. Priority should be accorded to reduce entries of amounts less than Rs. 10000/- and those pending for more than 2 years. These steps have already been reiterated in the SOP several times. ...

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How to submit Response to Outstanding Income Tax Demand

Income Tax - Once the e-Filed returns are processed and outstanding tax demand available in e-Filing portal, assessee is facilitated to submit the response against outstanding tax demand raised by CPC/AST. In this article we have discussed how a Taxpayer can submit online response against such Income Tax Demands :-...

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15 FAQs related to Income Tax Demand and Notice u/s 245

Income Tax - 1. Why am I receiving Notice u/s 245? Your return has been processed at CPC and the same has resulted in refund. The refund so determined is liable to be adjusted against the outstanding demand. Notice u/s 245 informs you of such demands against which your refund would be adjusted within 30 days from date […]...

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Pay IT dues in advance at RBI or at authorised bank branches

Income Tax - Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date....

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ICAI invites Feedback on I-T Arrear Demand Verification Portal

Income Tax - The Income Tax Department has launched an Arrear Demand Verification Portal at https://incometaxindiaefiling.gov.in/ which can be accessed by the assessees with their respective user-id. This portal provides various options in the assessee’s dashboard for settling/modifying the outstanding demand against the assessee’s name....

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TDS deducted but not deposited – Demand against deductee

Income Tax - The Central Board of Direct Taxes had issued directions to the field offices that taxpayers whose tax has been deducted at source but not deposited to the Government’s account by the deductor, will not be asked to pay the demand to the extent tax has been deducted from his income....

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Revised guidelines for stay of demand at first appeal stage

Income Tax - With a view to streamline the process of grant of stay of demand when the case of the taxpayer is pending before Commissioner (Appeals) and to standardize the quantum of lump sum payment required to be made by the assessee as a pre-condition for stay of demand disputed, the Central Board of Direct Taxes has issued fresh guidelines to the ...

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Amend Section 281B To Provide Release Of Attached Property On Submission Of Bank Guarantee

Income Tax - Under Section 281B, AO has the power to provisionally attach the assets, with the approval of the CIT/CCIT. Such attachment is supposed to be temporary, with a limit of 6 months, extendable to a maximum of 24 months. However, in view of the fact that in many such cases, the proceedings itself get stayed as a result of applications made by...

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Stay Application: No necessity to pre-deposit 15% of disputed demand

Jagdish Gandabhai Shah Vs principal Commissioner of Income Tax (Gujarat High Court) - High Court held that Considering the Office Memorandum F. No. 404/72/93- ITCC dated 29thFebruary 2016 as a whole, there is no such requirement of pre-deposit of 15% of the disputed demand either at the time of submitting stay application or before the stay application of the assessee is considered o...

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AO can adjust only 15% of demand against refund in stay application

M/s Andrew Telecommunications India Pvt. Vs Principal Commissioner of Income Tax (Bombay High Court at Goa) - Rule made returnable forthwith. The learned Counsel for the respondent, waives service. Heard finally by consent of parties. The petitioner is a Company engaged in the business of manufacturing base station antennas, microwave antennas, R.F. cables, jumpers and connectors and trading in related prod...

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High Pitched Assessment: AO/CIT cannot straightaway demand 15% payment

Flipkart India Private Limited Vs ACIT (Karnataka High Court) - Undoubtedly, the present case raises the issue of balancing the interest of the Revenue, and the interest of an Needless to say, the Revenue does have the right to realise the assessed incometax amount from the assessee. However, while trying to realise the said amount, the Revenue cannot be permitt...

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Recovery proceedings Initiation before stay application disposal is illegal

Khandelwal Laboratories Pvt. Ltd. Vs DCIT (Bombay High Court) - High Courtheld that the any action of revenue to recover taxes adopting coercive means is not permissible till the assessee’s application for stay under section 220(6) of the Act is disposed of. Further, an application for stay should be disposed off by a speaking order....

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High pitched assessments: 100% demand stay must be Granted

Dimension Data Asia Pacific Pte Ltd Vs DCIT (ITAT Mumbai) - The Tribunal granted 100 percent stay of demand because (a) the assessed income was more than 10 times the returned income. (Instruction 96 of 1969 was relied upon) & (b) The stand taken by the AO was at variance with the stand taken by TPO....

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Unsatisfactory Income Tax recovery from arrears and current demand

F. No. 385/17/2016-IT (B) - (17/03/2017) - On review of the position of collection out of arrear and current demand as on 28.02.2017, it is noted that the performance of the Department as a whole and of almost all Pr. CCIT Regions individually is much below the targets given in the Central Action Plan 2016-17....

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Step up efforts to recover outstanding demand- CBDT

F.No.385/17/2016-IT (B) - (19/12/2016) - It may be pointed out that the target of cash collection from arrear demand was fixed very modestly at Rs.53,981 crore in the Central Action Plan for 2016-17 as against very large amount of arrears outstanding. However. till the end of November, 2016...

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Pay IT dues in advance at RBI or at authorised bank branches

Press Release : 2016-2017/1087 - (02/11/2016) - Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date....

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TDS deducted but not deposited – Demand against deductee

NA - (11/03/2016) - The Central Board of Direct Taxes had issued directions to the field offices that taxpayers whose tax has been deducted at source but not deposited to the Government’s account by the deductor, will not be asked to pay the demand to the extent tax has been deducted from his income....

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Revised timeline for verification of arrear demand U/s. 245 of Income Tax Act, 1961

F.No.312/109/2015-OT - (07/03/2016) - In cases where that tax payer has contested the demand, CPC would issue a reminder to the assessing officer about the contention of the taxpayer, asking him to either confirm, or make appropriate changes to the demand within thirty days. In case no response is received from the AO within thirty days...

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Recent Posts in "Income Tax Demand"

Stay Application: No necessity to pre-deposit 15% of disputed demand

Jagdish Gandabhai Shah Vs principal Commissioner of Income Tax (Gujarat High Court)

High Court held that Considering the Office Memorandum F. No. 404/72/93- ITCC dated 29thFebruary 2016 as a whole, there is no such requirement of pre-deposit of 15% of the disputed demand either at the time of submitting stay application or before the stay application of the assessee is considered on merits. ...

Read More

AO can adjust only 15% of demand against refund in stay application

M/s Andrew Telecommunications India Pvt. Vs Principal Commissioner of Income Tax (Bombay High Court at Goa)

Rule made returnable forthwith. The learned Counsel for the respondent, waives service. Heard finally by consent of parties. The petitioner is a Company engaged in the business of manufacturing base station antennas, microwave antennas, R.F. cables, jumpers and connectors and trading in related products....

Read More

High Pitched Assessment: AO/CIT cannot straightaway demand 15% payment

Flipkart India Private Limited Vs ACIT (Karnataka High Court)

Undoubtedly, the present case raises the issue of balancing the interest of the Revenue, and the interest of an Needless to say, the Revenue does have the right to realise the assessed incometax amount from the assessee. However, while trying to realise the said amount, the Revenue cannot be permitted, and has not been permitted by the Ci...

Read More

Unsatisfactory Income Tax recovery from arrears and current demand

F. No. 385/17/2016-IT (B) (17/03/2017)

On review of the position of collection out of arrear and current demand as on 28.02.2017, it is noted that the performance of the Department as a whole and of almost all Pr. CCIT Regions individually is much below the targets given in the Central Action Plan 2016-17....

Read More

Step up efforts to recover outstanding demand- CBDT

F.No.385/17/2016-IT (B) (19/12/2016)

It may be pointed out that the target of cash collection from arrear demand was fixed very modestly at Rs.53,981 crore in the Central Action Plan for 2016-17 as against very large amount of arrears outstanding. However. till the end of November, 2016...

Read More

Pay IT dues in advance at RBI or at authorised bank branches

Press Release : 2016-2017/1087 (02/11/2016)

Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date....

Read More

Refund of Excess amount paid- Dispute Resolution Scheme, 2016

The Dispute Resolution Scheme, 2016 has been introduced through Union Budget, 2016. The scheme has been brought with the object to collect tax arrears, clear pendency of appeals, achieve reduction in administrative costs etc. In most of the cases apart from filing appeal, the demand amount, either partly or fully, is generally deposited ...

Read More
Posted Under: Income Tax |

How CBDT plans to add new Taxpayers in 2016-17

The key result areas for widening of tax-base are as under: (i) Improving compliance to TDS/TCS Provisions (ii) Effective collection of information about high value transactions (iii) Efficient handling of information without valid PAN (iv) Ensuring compliance from identified non-filers through various methods...

Read More
Posted Under: Income Tax |

CBDT Strategy for Recovery of Arrears of Tax Demand for 2016-17

Since the very beginning, the focus needs to be on the reduction of Arrear Demand by de-duplication of the entries and cleansing the arrear demand data. Priority should be accorded to reduce entries of amounts less than Rs. 10000/- and those pending for more than 2 years. These steps have already been reiterated in the SOP several times. ...

Read More
Posted Under: Income Tax |

How to submit Response to Outstanding Income Tax Demand

Once the e-Filed returns are processed and outstanding tax demand available in e-Filing portal, assessee is facilitated to submit the response against outstanding tax demand raised by CPC/AST. In this article we have discussed how a Taxpayer can submit online response against such Income Tax Demands :-...

Read More
Posted Under: Income Tax | ,
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