Home Income tax Individual Income Tax Settlement of Outstanding Income Tax Demand as per Budget 2024: Know the Process

Settlement of Outstanding Income Tax Demand as per Budget 2024: Know the Process

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Settlement of Outstanding Income Tax Demand as per Budget 2024: Know the Process

Settlement of Excellent Earnings Tax Demand as per Price range 2024: Know the Course of

The revenue Tax Division has began closing the outdated calls for from Earnings Tax Portal, as dedicated within the Interim Price range 2024. This Article offers with the method of settlement of outdated Earnings Tax Demand as per Price range 2024.

Capping of Rs. 1 Lakh

Within the funds speech, Hon’ble Finance Minister proposed to withdraw or waive off the small, unresolved, unverified, or disputed direct tax calls for pertaining to the monetary years as much as 2014-15.

As per the announcement restoration of the outdated excellent calls for as much as INR 25,000 for the interval as much as monetary 12 months 2009-10 and as much as INR 10,000 for monetary years 2010-11 to 2014-15 shall be waived off.

The tax demand shall be waived off topic to most ceiling of Rs. 1 lakh for any particular taxpayer.

CBDT to waive off tax demand capped at Rs. 1 lakh excellent as of Jan 31, 2024 [Read Order]

How you can verify Remission and Extinguishment of Calls for?

Eligible excellent direct tax calls for have been remitted and extinguished. Please log into your account and comply with the trail Pending Motion > Response to Excellent Demand to verify the standing of ‘Extinguished Calls for’ in your case. In case of queries/issues, please name 1800 309 0130  or write an electronic mail to [email protected]  in order that your issues could be addressed.

Above Remission not relevant on TDS Calls for:

As per the CBDT order dated thirteenth February, the waiver of demand won’t be made in case of TDS/TCS Calls for. [Read Circular]

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