Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Indirect Tax »
Open DEMAT Account in 24 hrs
 How to reduce tax on rent from vacant houses
 Make sure to claim these tax deductions
 Investment tips for those opting for new tax regime
 Indirect tax dept issues notices to companies over late input credit claim under GST frame
 E-generated document required for indirect tax notices
 FinMin seeks industry inputs on direct, indirect tax changes
 Govt gives businesses four months to settle indirect tax disputes
 ITR filing becomes easy via new 'e-Filing Lite' portal - 5 things to know Income Tax Return
 No income tax on interest from accident compensation: High Court
 How much tax do you need to pay for your equity investments?
 Income Tax Department proposes new norms for taxing MNCs in India

CBDT seeks monthly data of disposed I-T appeals
October, 18th 2016

There are a total of nearly 2.59 lakh cases pending adjudication before commissioners of income tax and it is estimated that each would have some 400 cases pending before them.

Last month, the CBDT had asked its officers to proactively encourage assessees to take advantage of the one-time tax dispute resolution scheme, which ends on December 31. In a new letter marked to field officers, the CBDT said it intends to take up publicity campaign to familiarise the appellants about the said scheme.

“The said campaign would be systems-driven. Hence… it may be ensured data of all the appeals pending before CIT (A) as on February 29, 2016 is uploaded on ITBA module for CIT (A) latest by October 21,” it said.

According to I-T department data, there were 73,402 appeals with tax effect above

Rs 10 lakh and 1,85,858 below Rs 10 lakh pending before CITs (appeal) as on February 29. Thus, 2,59,260 appellants are eligible to avail of this scheme.

The Direct Tax Dispute Resolution Scheme, introduced from June 1, seeks to address the issue of pending litigation before these commissioners. As per the scheme, a taxpayer who has an appeal pending before the CIT (appeal) can settle his/her case by paying the disputed tax and interest up to the date of assessment. No penalty in respect of cases with disputed tax up to Rs 10 lakh will be levied.

For cases exceeding Rs 10 lakh, 25 per cent of penalty will be levied and any pending appeal against a penalty order can also be settled by paying 25 per cent of the minimum of the imposable penalty.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting