Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: VAT RATES :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: form 3cd :: cpt :: list of goods taxed at 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: empanelment :: ACCOUNTING STANDARD
 
 
News Headlines »
 How to claim income tax refund
 How to time your buys to have best of two tax regimes
 Here's why you must always check Form 26AS before filing tax return
 Want to file your income tax return after June 30? Having Aadhaar card is a must
 Timeline for filing of tax returns extended by two months
 Top 5 common mistakes to avoid while filing your income tax returns
 GST rollout on July 1: Deadline for filing tax returns extended
 What is GST?
 Income-tax (15th Amendment) Rules, 2017?
 Banks get a breather as GST Council extends deadline for tax filing
 Income Tax filing: Your easy guide in 7 steps

CBDT Press Release on Standard Operating Procedure for verification and correction of demand by the AOs.
April, 21st 2014
                                         No.402/92/2006-MC
                                      Government of India
                                       Ministry of Finance
                                     Department of Revenue
                                   Central Board of Direct Taxes

                                            PRESS NOTE
                                                                                       17th April, 2014


Detailed instructions have been issued by the CBDT to all the assessing officers laying down a
Standard Operating Procedure (SOP) for verification and correction of demand by the AOs. As
per this SOP, the taxpayers can get their outstanding tax demand reduced/deleted by applying
for rectification along with the requisite documentary evidence of tax/demand already paid.
The SOP also makes special provisions for dealing with the tax demand upto Rs. 1,00,000/- in
the case of Individuals and HUFs in order to accommodate certain extra ordinary situations. The
SOP is expected to mitigate the long standing grievances of taxpayers by way of
reduction/deletion of tax demands.




The CBDT has further noted that many taxpayers are committing mistakes while furnishing their
tax credit claims in the return of income. Such mistakes include quoting of invalid/incorrect
TAN; quoting of only one TAN against more than one TAN tax credit; furnishing information in
wrong TDS Schedules in the Return Form; furnishing wrong challan particulars in respect of
Advance tax, Self-assessment tax payments etc. As a result of these mistakes, the tax credit
cannot be allowed to the taxpayers while processing returns despite the tax credit being there
in 26 AS statement. The CBDT, therefore, desires the taxpayers to verify if the demand in their
case is due to tax credit mismatch on account of such incorrect particulars and submit
rectification requests with correct particulars of TDS/tax claims for correction of these
demands.

The rectification requests have to be submitted to the jurisdictional assessing officer in case the return was processed by such officer, or the taxpayer is informed by CPC, Bangalore that such rectification is to be carried out by Jurisdictional assessing officer. In all other cases of processing by CPC, Bangalore, an online rectification request can be made by logging in to e- filing website http://incometaxindiaefiling.gov.in as per the procedure given in detail in its Help Menu. (Rekha Shukla) Commissioner of Income Tax (Media & Technical Policy) Official Spokesperson, CBDT
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions