Outstanding Tax Demand up to 25K till 2010 and up to 10k till 2015 will be withdrawn
Beneficial Direct Tax Announcement regarding WITHDRAWAL of Disputed Direct Tax demands!!Withdrawal of Such Outstanding Demands :- Upto Rs. 25000 pertaining up to FY 2009-10 Upto Rs. 10000 pertaining from FY 10-11 to 14-15. Relevant part from Hon. FM’s Speech is as below
93. Moreover, in line with our Government’s vision to improve ease of living and ease of doing business, I wish to make an announcement to improve tax payer services. There are a large number of petty, non‐verified, non‐reconciled or disputed direct tax demands, many of them dating as far back as the year 1962, which continue to remain on the books, causing anxiety to honest tax payers and hindering refunds of subsequent years. I propose to withdraw such outstanding direct tax demands up to twenty‐five thousand rupees (₹ 25,000) pertaining to the period up to financial year 2009‐10 and up to ten‐thousand rupees (₹ 10,000) for financial years 2010‐11 to 2014‐15. This isexpected to benefit about a crore tax‐payers.
