CBDT has issued an Office Memorandum regarding issue refunds up to Rs. 5,000 without adjustment of outstanding tax liability for Asstt. Year 2013-14 and 2014-15.
CBDT further state that to convey the decision that in order to provide relief to the small taxpayers, refunds upto Rs. 5000/- and refunds in cases where arrears demand upto Rs. 5000/- may be issued without any adjustment of outstanding arrears under section 245 of the Act during Fin. Year 2015-16.
As on 09.10.2016, there are 64938 cases of refunds below Rs. 5000/- involving Rs. 1148.14 Crore in non-CASS case for Asstt. Year 2013-14 and 2014-15 pending in AST. It is requested that the Assessing Officers be directed to issue these refunds without any adjustment of arrears under section 245. Similarly, the non-CASS cases for these assessment years where the refund amount is more than Rs. 5000/- but the outstanding arrears is Rs. 5000/- or less may also be processed for issue of refund without any adjustment under section 245.
Download Office Memorandum (Click Here)
CBDT further state that to convey the decision that in order to provide relief to the small taxpayers, refunds upto Rs. 5000/- and refunds in cases where arrears demand upto Rs. 5000/- may be issued without any adjustment of outstanding arrears under section 245 of the Act during Fin. Year 2015-16.
As on 09.10.2016, there are 64938 cases of refunds below Rs. 5000/- involving Rs. 1148.14 Crore in non-CASS case for Asstt. Year 2013-14 and 2014-15 pending in AST. It is requested that the Assessing Officers be directed to issue these refunds without any adjustment of arrears under section 245. Similarly, the non-CASS cases for these assessment years where the refund amount is more than Rs. 5000/- but the outstanding arrears is Rs. 5000/- or less may also be processed for issue of refund without any adjustment under section 245.
Download Office Memorandum (Click Here)
