Provisional assessment failures led to uncredited pre-paid taxes; ensure proper recording and liaison to protect tax credits. Revenue Audit found that payments against provisional assessment were not credited in final assessments because ITNS-150 and demand notices omitted such payments, Demand & Collection registers lacked corresponding entries, and assessing officers did not verify credits with ITO (Collection), resulting in inflated demands; the instruction directs proper recording of payments, retention of payment evidence, and closer liaison between assessing officers and collection offices to ensure pre-paid taxes are adjusted.
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Provisional assessment failures led to uncredited pre-paid taxes; ensure proper recording and liaison to protect tax credits.
Revenue Audit found that payments against provisional assessment were not credited in final assessments because ITNS-150 and demand notices omitted such payments, Demand & Collection registers lacked corresponding entries, and assessing officers did not verify credits with ITO (Collection), resulting in inflated demands; the instruction directs proper recording of payments, retention of payment evidence, and closer liaison between assessing officers and collection offices to ensure pre-paid taxes are adjusted.
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