U/s 245 of Income Tax Act 1961 revised timeline for verification ...

New Timeline for Verifying Tax Arrears: CPC to Issue Refunds if No AO Response in 30 Days u/s 245.

March 9, 2016

Circulars Income Tax

U/s 245 of Income Tax Act 1961 revised timeline for verification of arrear of demand - In case no response is received from the AO within thirty days. CPC would issue the refund without any adjustment. The responsibility of, non-adjustment of refund against outstanding arrears, if any, would lie with the Assessing Officer.

View Source

← Previous Next →

U/s 245 of Income Tax Act 1961 revised timeline for verification ...

New Timeline for Verifying Tax Arrears: CPC to Issue Refunds if No AO Response in 30 Days u/s 245.

March 9, 2016

Circulars Income Tax

You may also like:

The High Court held that after the Income Tax Appellate Tribunal's order, the tax authorities are bound to refund the amount to the petitioner with interest, without...

Validity of Intimation passed u/s 143(1) - Rectification of arithmetical error or prima facie incorrect claim - CPC is entitled to make adjustments as per 1st proviso of...

Revenue cannot set off or withhold a refund without issuing an intimation u/s 245 of the Income Tax Act. Section 245(1) mandates that before setting off a refund against...

Unjust adjustment of excess refunds - intimation ought to be given to the assessee before making an adjustment of refund towards pending tax dues u/s 245 - The...

Reducing the time provided for furnishing TP report - Now any information, documents required by AO for international transaction U/s 92D has to be furnished within 10...

Tax refund adjustment towards the arrears of the tax - respondent authorities have applied the refund tax towards penalty only but not towards the arrears of tax - the...

Section 245 of the Income Tax Act empowers the Assessing Officer to adjust refund against outstanding tax demand and withhold refund where assessment or reassessment is...

Refund adjustments against disputed tax demands - Non invoking Section 245 - no notice or opportunity of pre-decisional hearing had been provided to the petitioner prior...

SEBI has decided to reduce the timeline for listing of debt securities and non-convertible redeemable preference shares (NCRPS) issued through public issues from T+6...

Grant of refund due to the deceased Assessee - Adjustment of demand with the refund - By issuing a notice on 21st March 2016 under Section 245 of the Act, two months...

Ex-parte assessment order - service of notice - it is alleged that the orders have been issued in complete violation to section 73 (8) of the GST Act which prescribes...

Set off and withholding of refunds u/s 245 - Adjustment of refund amount with the demand of tax for the subsequent years - petitioner has agreed that, against the refund...

This case deals with the validity of assessment proceedings initiated against an amalgamated company for the assessment year 2018-19. The key points are: The Assessing...

The Corrigendum to Notification No. 02 of 2024, issued by the Directorate of Systems under the Ministry of Finance, Government of India, addresses a clarification...

Seeking Condonation of Delay of 14 days in filing of the Appeal - It is really strange that the agency of the Government failed to seek the required information within...

Quick Updates: