Income Tax : Explore the proposed scheme for resolving unresolved tax demands, easing taxpayer burdens, and improving compliance through fair, ...
Income Tax : Faceless assessments in FY 23-24 raised Rs 43 trillion in tax arrears, sparking concern over the impact on India's tax ecosystem a...
Income Tax : Summary: Income additions by tax authorities due to discrepancies between a taxpayer’s declared income and the details in Fo...
Income Tax : Discover if the 20% pre-deposit for tax disputes is always mandatory or if there are exceptions. Learn about discretionary powers ...
Income Tax : The CBDT implements the interim budget's historic announcement of waiving old tax demands up to specified amounts for certain fina...
Income Tax : KSCAA Representation regarding adjustments (over and above 20% of disputed demand) by CPC despite assessments pending before first...
Income Tax : Grievances and suggestions with respect to the functioning of Demand Facilitation Center, CPC (DFC) in connection to the outstandi...
Income Tax : The Taxpayer can submit the response online to the outstanding demand by performing the below steps. 1. Go to the Income Tax e-Fil...
Income Tax : CBDT desires that all the work related to cleaning up of the tax demands and calculating the tax payable or refundable in respec...
Income Tax : Verify online notice/order issued by the Income Tax Department Now Taxpayer can verify notice/order issued by the Income Tax Depar...
Income Tax : Read the full text of the judgment from Madras High Court on G.K. Reddy's case against DCIT. Court rules pension cannot be attache...
Income Tax : Assessee had not been able to make out a prima facie case in its favour and had a ‘lot to answer’ in the appeal. Assessee's pl...
Income Tax : Delhi HC directs refund of Income Tax amount exceeding 20% of the demand. Read about the Max Life Insurance case and the decision ...
Income Tax : ITAT reversed the demand under Section 200A attributable to merely wrong mention of TAN in the TDS deposit challan...
Income Tax : Uptill AY 2016-17, if a scrutiny notice u/s 143(2) is issued, the return is not required to be processed u/s 143(1) for grant of r...
Income Tax : Instruction No. 01 of 2023 by Directorate of Income Tax (Systems), exploring implications for income tax payers and their response...
Income Tax : ADVISORY NO.: 45 Dated:- 14.07.2022 0/o PCDA(0) Pune, Public Relation office (PRO) Subject: Income Tax Demand Notice under section...
Income Tax : Corrigendum to Order under section 119 of the Income-tax Act, 1961 dated 16.10.2020 for exercising power of intrusive or coercive ...
Income Tax : The functionality of demand adjustment by AO u/s 245 can be accessed while passing assessment order, rectification order into the ...
Income Tax : 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 ...
Whenever assessing officer issues assessment order u/s 143(3), 147, 271(1)(c) along with it notice of demand u/s 156 is also raised. This demand notice is usually required to be paid within 30 days of service/receipt of the same. In case assessee fails to pay the demand within the required time, he/she becomes assessee in default.
Taxpayers can view the details of their Arrear Demand in ‘My Account’ as communicated by their jurisdictional Assessing Officers to CPC. Steps to View Income tax Demand / Arrears Payable Online 1. Login on https://incometaxindiaefiling.gov.in/portal/index.do 2. Go to ‘My Account’ and Click on ‘Current Status of Arrear Demand’ as depicted in picture below :-
Assessee needs to seek stay of outstanding demand since his Bank account has been attached by the department. Also he has financial stringency. Attachments to bank accounts withdrawn to enable assessee to pay tax demand.
The functionality of demand adjustment by AO u/s 245 can be accessed while passing assessment order, rectification order into the ITBA system. In case, refund is determined in Computation of Assessment, Rectification then, following 4 below mentioned options regarding demand adjustment u/s 245 shall be available through ITBA.
Learn about the recovery of outstanding tax demand and the resources available to assist the assesses in protecting themselves from unjust tax recovery.
Find out how to respond to outstanding income tax demands under Section 143(1). Learn the steps for online payment and dispute resolution.
Learn about the procedure of recovery under the Income Tax Act and understand the different modes of recoveries available.
Yesterday, the dream day for all professionals, when at last clients has provided their details for Tax Audits and my entire professional colleague has rendered their best services to the nation and their clients. With the completion of this ITR Filing season, now Income Tax Department is processing our Filed ITR’s and starts sending intimation U/s 143 (1) of Income Tax Act, 1961.
Since CIT rejected assessee’s application for stay of recovery of demand merely relying of CBDT instruction which was cryptic and non-speaking as CBDT circular/instruction could not serve as a series of guidelines in the matter of grant of stay, therefore, the matter was remanded back to CIT for disposal afresh in accordance with law.
Smt. Kalpana Ashwin Shah Vs ACIT and Ors. (Bombay High Court) 1. The Petitioner has challenged the orders passed by the Assessing Officer as well as the Commissioner of Income Tax, requiring the Petitioner to deposit 20% of the disputed tax pending Appeal against the order of the assessment subject to which the remaining recovery […]
