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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>Board Withdraws Instruction No. 01/2012: New Guidelines for TDS Discrepancies in Income Tax Returns for Assessment Year 2011-12.</h1> The Board has withdrawn Instruction No. 01/2012 regarding the processing of income tax returns for the assessment year 2011-12. The new guidelines state that for returns (ITR-1 to ITR-6) where the discrepancy between the TDS claim and the AS-26 reported TDS amount is within Rs. 5,000, the claim will be accepted without verification. If there is zero TDS matching, verification is required before credit is allowed. TDS claims with invalid TAN will not receive credit, and all other cases will require verification before TDS credit is granted.