Tax Demand – TheNewsay https://thenewsay.com Sun, 25 Feb 2024 10:03:12 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.3 https://i0.wp.com/thenewsay.com/wp-content/uploads/2024/02/cropped-TheNewSay-Favicon.png?fit=32%2C32&ssl=1 Tax Demand – TheNewsay https://thenewsay.com 32 32 230920947 Income Tax: Relief for Small Tax Demands Cleared – Check Your Status https://thenewsay.com/relief-for-small-tax-demands-cleared-income-tax/ https://thenewsay.com/relief-for-small-tax-demands-cleared-income-tax/#respond Thu, 29 Feb 2024 02:30:00 +0000 https://thenewsay.com/?p=5155 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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