Income Tax Department to Automatically Erase Small Tax Demands
14/02/2024 Other Services
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Description
The Chairman of the Central Board of Direct Taxes (CBDT) has announced that the Income Tax Department will automatically erase small tax demands on its own. This move comes after the government's proposal to withdraw outstanding direct tax demands up to Rs 25,000 for the fiscal year 2009-10 and up to Rs 10,000 for the financial years 2010-11 to 2014-15. This decision aims to provide relief to taxpayers by simplifying the process and reducing their burden. The automatic erasure of these petty tax demands will save taxpayers from the hassle of dealing with such small amounts and allow them to focus on their business and personal finances.
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