Income Tax: Relief for Small Tax Demands Cleared – Check Your Status

TheNewsay Staff — Thu, 29 Feb 2024 02:30:00 +0000

Income Tax: Relief for Small Tax Demands Cleared – Check Your Status: The income tax department has cleared and extinguished small outstanding direct tax demands, offering relief to taxpayers facing demands of less than ₹1 lakh. This action follows an announcement by Union Finance Minister Nirmala Sitharaman during the interim Budget.

Relief for Small Tax Demands Cleared: Income Tax 2024

How to Check Your Status?

To verify if your tax demand has been waived, follow these steps:

A. Visit: pending action > response to outstanding demand.

B. Look for the status of ‘extinguished demands’ in your case.

C. For queries, call 1800-309-0130.

D. Email your concerns to taxdemand@cpc.incometax.gov.in.

Also Read: Relief for Small Tax Demands Cleared

Withdrawal of Tax Demands

The government proposed to withdraw outstanding direct tax demands dating back years, causing anxiety to honest taxpayers.

“There are disputed tax demands some of them dating back to 1962 causing anxiety to the honest tax payers, so I propose to withdraw such outstanding direct tax demand up to ₹25,000 pertaining to the period up to FY 2009-10 and up to ₹10,000 up to 2010-11 to 2014-15,” said Sitharaman in the Budget speech. This is expected to benefit one crore tax payers, she added

In another development, Life Insurance Corporation of India announced receiving refund orders totaling ₹21,740.77 crore from the Income Tax Department for Assessment Years 2012-13 to 2019-20.

Also Read: Relief for Small Tax Demands Cleared

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Unlock Your TAN: Simple Steps to Verify Your TAN Online

TheNewsay Staff — Thu, 08 Feb 2024 22:25:00 +0000

Simple Steps To Verify Your TAN Online in 2024: TAN, short for Tax Deduction and Collection Account Number, is a 10-digit alphanumeric code issued by the Income Tax Department. It is crucial for those involved in tax collection or deduction at the source (TCS and TDS). Individuals responsible for deducting TDS or collecting TCS must have a TAN.

Simple Steps To Verify Your TAN Online in 2024

Obtaining a TAN is mandatory for filing TCS, TDS, or any other income tax returns. Failing to provide the TAN during tax return filing can lead to penalties. Hence, it is vital to apply for your Tax Deduction and Collection Account Number promptly. Below you will know more about the Simple Steps To Verify Your TAN Online in 2024.

Photo: Pixabay

Steps to Know Your TAN

Step 1: Visit the ‘e-Filing’ Portal at https://www.incometax.gov.in/iec/foportal.

Step 2: Click on ‘Know Your TAN’ in the ‘Quick Links’ section.

Step 3: Choose TAN search based on Name or TAN.

Step 4: Select the ‘Category of Deductor’ and ‘State’ from the dropdown (if applicable).

Step 5: Enter the ‘Name’ or ‘TAN’ and provide the ‘Mobile Number.’

Step 6: Click ‘Continue’ to receive the OTP on the entered mobile number.

Step 7: Enter the OTP and click ‘Validate’ to view the TAN details.

How to Apply for TAN?

There are 2 ways to apply for TAN:

#1. Offline: Fill out Form 49B in duplicate and submit it to any TIN-FC. TIN FC addresses can be found on the Protean (formerly NSDL eGov) TIN website.

#2. Online: Apply for TAN online through the Protean (formerly NSDL eGov) TIN website.

Who Can Apply for TAN?

Anyone paying salaries or commissions to others needs a TAN. This includes central or state governments, local authorities, statutory or autonomous bodies, companies, branches, divisions, individuals, Hindu Undivided Families (HUFs), sole proprietors, firms, associations of persons, or trusts.

Also Read: Simple Steps To Verify Your TAN Online in 2024

Income Tax Department – TheNewsay