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Income Tax - Outstanding Income Tax demand arises when taxpayer’s tax as per Income Tax Return is less than the tax payable as per Income Tax Department. ITD sends the intimation under Section 143(1) asking for outstanding demand along with the calculations, stating the reason why you need to pay more tax. You can go through the calculations [&h...
Read MoreIncome 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 ...
Read MoreIncome 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...
Read MoreIncome 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. ...
Read MoreIncome 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 :-...
Read MoreIncome Tax - Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date....
Read MoreIncome 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....
Read MoreIncome 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....
Read MoreIncome 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 ...
Read MoreIncome 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...
Read MoreGreater Mohali Area Development Authority Vs. DCIT (ITAT Chandigarh) - With this common order we will dispose of the captioned applications of the assessee seeking stay for the recovery of outstanding tax demand for assessment year 2009-10 & 2013-14 respectively. ...
Read MoreGoogle India Private Limited Vs. DICT (Karnataka High Court) - In the circumstances, a direction is issued to the Tribunal to dispose of the appeal in an expeditious manner i.e., on or before 31/01/2018. It is needless to observe that in view of the specific direction issued by this Court for expeditious disposal of the appeal by the Appellate Tribunal, both p...
Read MoreM/s. Google India Pvt. Ltd. Vs Deputy Commissioner of Income-tax (ITAT Bangalore) - M/s. Google India Pvt. Ltd. Vs DCIT (ITAT Bangalore) The present stay petition is filed seeking further extension of the stay of demand. Admittedly there is change of the circumstances from the first stay order, since this Tribunal had disposed of the appeal involving identical issue for earlier yea...
Read MoreKalaignar TV Private Limited Vs. The Principal Commissioner of Income Tax (Madras High Court) - This Court finds that when the petitioner had agreed to comply with the payment of disputed tax at the rate of Rs. 50 lakhs per month, they are bound to comply with such an undertaking. Now arguing before this Court pleading their financial incapacity or requesting this Court to examine the merits o...
Read MoreCIT Vs. Oryx Finance and Investment (P) Ltd. (Bombay High Court) - On reading the provisions of section 221 conjointly with the definition of “tax” as detailed under section 2(43), the irresistible conclusion that can be drawn is that the phraseology tax in arrears as envisaged in section 221 of the Act would not take within its realm the interest component. ...
Read MoreDt. No. 683/CIT/(A&J)/2015 - (12/10/2017) - As per the Central Action Plan issued for the F.Y. 2017-18, all pending appeals having tax effect of Rs. 50 crore or more are to be dispose of up to 31st December, 2017 as mentioned at Para (i) of Action Plan of chapter-III of the Central Action Plan which is reproduced as under: -...
Read MoreF. 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 MoreF.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 MorePress 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 MoreNA - (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....
Read MoreGreater Mohali Area Development Authority Vs. DCIT (ITAT Chandigarh) -
Google India Private Limited Vs. DICT (Karnataka High Court) -
M/s. Google India Pvt. Ltd. Vs Deputy Commissioner of Income-tax (ITAT Bangalore) -
Kalaignar TV Private Limited Vs. The Principal Commissioner of Income Tax (Madras High Court) -
CIT Vs. Oryx Finance and Investment (P) Ltd. (Bombay High Court) -
Dt. No. 683/CIT/(A&J)/2015 - (12/10/2017) -
Jagdish Gandabhai Shah Vs principal Commissioner of Income Tax (Gujarat High Court) -
M/s Andrew Telecommunications India Pvt. Vs Principal Commissioner of Income Tax (Bombay High Court at Goa) -
Flipkart India Private Limited Vs ACIT (Karnataka High Court) -
