The amount of demand covered by the advance tax. - Income Tax - 165/CBDT

INSTRUCTION NO 165/CBDT, Dated: April 27, 1970 In the quarterly return of demand, collection and balance for the quarter ending 31-12-69, the amount of demand covered by the advance tax which is awaiting adjustment has been shown as Rs.69.19 crores as against Rs.68.29 crores during the corresponding period of 1968-69. Thus the figure of demand covered by advance tax which is awaiting adjustment upto 31-12-69 has gone up as compared to the figures during the corresponding period of the year 1968-69. 2. In terms of Board's instructions No.101/1969 dated the 27th August, 1969 w.e.f. 1969-70 it was not necessary to send to the Treasury Officers the adjustment memos prescribed in Board's letter No.14/20/62-ITB for adjustment of advance tax credited under "IV-Taxes on income other than Corporation-tax" to final revenue heads of account as and when regular assessments are completed. In view of these instructions the amount of demand covered by advance tax which is awaiting adjustment during the current year should have gone down as compared to the amount awaiting adjustment of advance tax. If this be the case, the mistake can be rectified only before the departmental figures are reconciled with the AG's by the 30th June, 1970. You may therefore look into this point and ensure that no demands under the head "IV-Taxes on income other than Corporation Tax" are shown as awaiting adjustment of advance tax. If however, the amounts have been wrongly shown as such, the AGs concerned may be requested to carry out the transfer entries to the proper revenue heads.