CBDT Notifies New Monetary Limits For Condonation Of Delay In Filing Refund Claim And Claim Of Carry Forward Of Losses
1 year, 6 months ago

CBDT Notifies New Monetary Limits For Condonation Of Delay In Filing Refund Claim And Claim Of Carry Forward Of Losses

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The Central Board of Direct Taxes has issued new monetary limits in respect of condonation of delay in filing refund claim and claim of carry forward of losses under Section 119 of the Income-tax Act, 1961.The Principal Commissioners of Income-tax/Commissioners of Income-tax shall be vested with the powers of acceptance/rejection of applications/claims if the. The Central Board of Direct Taxes has issued new monetary limits in respect of condonation of delay in filing refund claim and claim of carry forward of losses under Section 119 of the Income-tax Act, 1961. The Principal Commissioners of Income-tax/Commissioners of Income-tax shall be vested with the powers of acceptance/rejection of applications/claims if the amount of the claims is not more than Rs.50 lakhs for any one assessment year. The Chief Commissioners of Income-tax shall be vested with the powers of acceptance/rejection of applications/claims if the amount of claims exceeds Rs.50 lakhs but is not more than Rs.2 crores for any one assessment year.

History of this topic

ITR Filing: Income tax department shortens time limit for condonation of delay – What it means for taxpayers
1 month ago
Direct Tax Cases Weekly Round-Up: 02 To 08 June 2024
6 months, 2 weeks ago
Indirect Tax Cases Weekly Round-Up: 17 To 23 March 2024
8 months, 4 weeks ago
CBDT Condones Delay In Filing Of Form No. 10-IC For Assessment Year 2021-22
1 year, 1 month ago
CBDT Extends Due Date For Educational & Charitable Institution Audit And Form ITR-7 For The Assessment Year 2023-24
1 year, 3 months ago
CBIC Notifies Annual Return Filing Exemption For Taxpayers Having Aggregate Turnover Upto Rs. 2 Crore in FY 2022-23
1 year, 4 months ago
CBDT Extends Time Limits For Submission Of TDS/TCS Statements
1 year, 5 months ago
TDS To Be Deducted By Online Game Platforms When The Winning Amount Exceeds The Threshold Of Rs. 100: CBDT
1 year, 7 months ago
CBDT Circulars Can’t Prescribe Limitation To Decide Application For Compounding Of Offence: Bombay High Court
1 year, 11 months ago
Tax Cases Weekly Round-Up: 13 November To 19 November 2022
2 years, 1 month ago
CBIC Issues Clarification On Refund Related Issues
2 years, 1 month ago
Tax Cases Weekly Round-Up: 30 October To 5 November 2022
2 years, 1 month ago
CBDT Notifies New Form 29D For Refund Of Tax Deducted
2 years, 3 months ago
CBIC Exempts Registered Person From Filing Annual Return Whose Aggregate Turnover In FY 2021-22 Is Upto Rs. 2 Crores
2 years, 5 months ago
No Limitation Applicable For Refund Amount Lying With Dept. Having The Nature Of Revenue Deposit: CESTAT
2 years, 6 months ago
Monthly Digest Of Tax Cases- April 2022
2 years, 7 months ago
Income tax alert: Taxpayers must complete this process now
2 years, 9 months ago
CBDT Issues Rs 92,961 Cr Refunds to 63.23 Lakh Taxpayers
3 years, 2 months ago
Tax department extends deadlines for various filings
3 years, 4 months ago
Net Direct Tax Mop Up Exceeds Revised Estimates at Rs 9.45 Lakh Crore in FY21
3 years, 8 months ago
Deadline For Income Tax Returns: Uttarakhand High Court Directs CBDT To Consider Representations
3 years, 11 months ago
CBDT issues refunds of over ₹1,29,190 cr to nearly 4 mn taxpayers since April
4 years, 1 month ago
CBDT issues over ₹98,625 crore to 26.2 lakh taxpayers since April
4 years, 3 months ago

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