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Income Tax Department Gave Big Relief To Taxpayers, Changed The Rules Of Tax Refund
Written by Gagandeep Kaur Arora - Printed on - Date - 7th Dec 2022
The Income Tax Department has given relief to the taxpayers regarding refund adjustment against the outstanding tax. Tax officials will now have to take a decision in such cases within 21 days. This decision will reduce litigation. The Directorate of Income Tax (Systems) said that the 30-day time limit given to assessing officers to take a decision has been reduced to 21 days.
According to a statement, if the taxpayer does not agree to the adjustment or partially agrees, the case will be immediately referred by the Centralized Processing Center (CPC) to the Assessing Officer, who will give his opinion to the CPC within 21 days that the adjustment has been made. may or may not go. Will have to answer the complaint in 21 days
The DIT (Systems) in an instruction to the field formation said, in some cases, as a result of issue of information under section 245, the assessees had replied on the demand portal that the demands are incorrect. Such wrong demand has been stayed by the Assessing Officer/TAT/High Court.
It has been pointed out that wrong classification of such demand as ‘correct and collectible’ or non-providing of response by the assessing officers to the response of the assessees has led to incorrect adjustments of refunds against such demands by CPCs, leading to complaints. And there has been litigation.
As a taxpayer you should analyse whether these results are worthwhile for you.There are chances that your employer has a set salary structure but still you can best use provisions of income tax and save a huge percentage of tax.
