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Last Updated : Thursday 2nd February, 2012 - 12:08am
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Anti-dumping duty imposed on "Acetone' originating in, or exported from Chinese Taipei and Saudi Arabia Continue reading | The facility of payment of application fee/ penalty/ any other fee through demand draft is being restored by suitably amending the Appendix 2K of Appendices and Aayaat Niryat Forms, 2015-20. Continue reading | CBEC notifies New Customs Exchange rates for all foreign currency with effect from 17th April, 2015 Continue reading | CBEC amends Drawback Rates for Items under chapter 28 and Notification relating to Exchange Rates Continue reading | Drawback of specified goods (deemed to be imported) used in exports - Amendment to Notification No. 44/91-Cus. (N.T.) Continue reading | CBEC hikes tariff value of gold but reduces same for Silver and also hikes same for RBD Palmolein Continue reading | GOVT notifies exemption to Transport Allowance of Rs 1600 for normal taxpayer and Rs 3200 for blind and handicapped Continue reading | Keeping in abeyance the provisions of para 2.55 and 2.56 of Handbook of Procedures, 2015-20. Continue reading | CBEC issues clarification on the effective date of new rate of service tax Continue reading | The number of 4% SAD refund claim at a Customs station shall be limited to one in a particular month  Continue reading |
 
 
 
CBDT Instruction No. 01/2012 [F.NO.225/34/2011-ITA.II], dated 2-2-2012

CBDT Instruction No. 01/2012 [F.NO.225/34/2011-ITA.II], dated 2-2-2012

Processing of returns of assessment year 2011-12 - Steps to clear backlog

The issue of processing of returns for the Asst. Year 2011-12 and giving credit for TDS has been considered by the Board. In order to clear backlog of returns, the following decisions have been taken:

(i)  In all returns (ITR-1 to ITR-6), where the difference between the TDS claim and matching TDS amount reported in AS-26 data does not exceed Rs. One lac, the TDS claim may be accepted without verification.

(ii)  Where there is zero TDS matching, TDS credit shall be allowed only after due verification. However, in case of returns of ITR-1 and ITR-2, credit may be allowed in full, even if there is zero matching, if the total TDS claimed is Rs. Five thousand or lower.

(iii)  Where there are TDS claims with invalid TAN, TDS credit for such claims are not to be allowed.

(iv)  In all other cases, TDS credit shall be allowed after due verification.




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