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    Office Memorandum Sub: Revised Timeline For Verification of Arrear Demand Under Section 245 of The Income-Tax Act, 1961

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    Venkat
    The document reduces the timeline for taxpayers and assessing officers to respond to notices under section 245 of the Income Tax Act from 30 days to 15 days for the remainder of the current financial year. This one-time reduction aims to clear the backlog of pending tax refunds that require verification under section 245. Approval was given by the Chairman of the Central Board of Direct Taxes for the revised timeline.

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    Office Memorandum Sub: Revised Timeline For Verification of Arrear Demand Under Section 245 of The Income-Tax Act, 1961

    Uploaded by

    Venkat
    22 views2 pages
    The document reduces the timeline for taxpayers and assessing officers to respond to notices under section 245 of the Income Tax Act from 30 days to 15 days for the remainder of the current financial year. This one-time reduction aims to clear the backlog of pending tax refunds that require verification under section 245. Approval was given by the Chairman of the Central Board of Direct Taxes for the revised timeline.

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    Revised-timeline-for-verification-07-03-2016

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    The document reduces the timeline for taxpayers and assessing officers to respond to notices under section 245 of the Income Tax Act from 30 days to 15 days for the remainder of the current financial year. This one-time reduction aims to clear the backlog of pending tax refunds that require verification under section 245. Approval was given by the Chairman of the Central Board of Direct Taxes for the revised timeline.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    22 views2 pages

    Office Memorandum Sub: Revised Timeline For Verification of Arrear Demand Under Section 245 of The Income-Tax Act, 1961

    Uploaded by

    Venkat
    The document reduces the timeline for taxpayers and assessing officers to respond to notices under section 245 of the Income Tax Act from 30 days to 15 days for the remainder of the current financial year. This one-time reduction aims to clear the backlog of pending tax refunds that require verification under section 245. Approval was given by the Chairman of the Central Board of Direct Taxes for the revised timeline.

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    of 2

    05-MAY-2004 00:02 From:

    To:23593359
    P. 1

    F.No.312/109/2015-0T
    Government of India .

    Ministry of Finance
    Central Board of Direct Taxes (CBOT)
    *****4 111 ********* * **111************44 * ***
    New Delhi, Dated 7' 1' March, 2016
    Office Memorandum

    Sub: Revised timeline for verification of arrear demand under section 245
    of the income-tax Act, 1961.

    Reference is invited to Office Memorandum of even number dated


    29.01,2016 vide which the procedure to be followed in cases where notice u/s
    245 has been issued for returns to be processed during FY 2015.16 was
    specified by the Board. It was prescribed in the O.M. tinder reference that-

    a) in cases where that tax payer has contested the demand, CPC would
    issue a reminder to the assessing officer about the contention of the
    taxpayer, asking him to either confirm, or make appropriate changes
    to the demand within thirty days. In case no response is received from
    the AO within thirty days, CPC would issue the refund without any
    adjustment. The responsibility of non-adjustment of refund against
    outstanding arrears, if any, would lie with the assessing officer.

    b) In cases where there is no response from the taxpayer, CPC would


    issue a reminder to the taxpayer, asking him to either agree or
    disagree with the demand and submit response on the e-filling portal
    within thirty days. In case no response is received from the taxpayer
    within thirty days, CPC would adjust the demand and issue the
    balance refund, if any, to the taxpayer.

    2, In view of the large volume of pending refunds which are subject to


    proceedings u/s 245 and the timeline of 30 days for responding to the notice
    allowed to the assessee and the same time period allowed to the assessing
    officer to confirm/ correct the demand, it is taking too long for the demand to
    be verified and the refunds to be issued, leading to rise of grievances.
    05- MAY-2004 00:02 From:

    To : 23593359
    P. 2

    -2-

    3. With a view to clear the pendency of refunds which are subject to


    verification under section 245, it has been decided that the timeline of 30 days
    for the assessee and the assessing officer specified in the O.M. dated
    29.01.2016 may be reduced to 15 days with regard to the notices under section
    245 to be issued in the balance period of the current financial year. This is a
    one-time measure to clear the backlog of refunds and accordingly the reduced
    timeline of 15 days shall be valid only till 3L03.201 6.
    .

    4, This issues with the approval of Chairman, CBDT.

    ;201,414.idilwq
    (Sali I Mishra)
    Director (OT/WT)
    Telefax:- 011-24101573
    email: salil,mishra(Dr,nic.In
    -

    All Princi pal Chief Commissioners/ Princi•al Directors General of Income Tax.
    All Chief Commissioners/ Directors General of Income Tax.
    Commissioner of Income Tax j_Cpc-urm, Bengaluru.

    Copy to:-

    1. Chairperson and all Members of CBDT.


    2. All Joint Secretaries and Commissioners in CBDT.
    3, Pr. DG1T (Systems) and Pr.DGIT (Admin.).
    4. Additional Directors General (Recovery) and (PR, PP&OL).
    t.),.. Web Managers of irsofficersonline,g_ov.in and incometaxindiagov. in for
    -.

    placing the Office Memorandum on the respective portals.


    6. Office of Comptroller & Auditor General of India (30 copies).

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