TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Non-Resident Taxpayers Entitled to Surcharge Refunds Under Finance (Amendment) Act, 1987; CBDT Authorizes Tax Refunds.</h1> The Finance (Amendment) Act, 1987, initially imposed a 5% surcharge on income tax for both resident and non-resident taxpayers if their income exceeded Rs. 50,000. However, the Act, assented on December 16, 1987, exempted non-residents from this surcharge retrospectively from September 19, 1987. Consequently, non-resident taxpayers who paid this surcharge are entitled to refunds. The Central Board of Direct Taxes has authorized Commissioners of Income-tax to process these refunds, provided any outstanding tax demands against the taxpayer are adjusted first. This measure aims to alleviate the financial burden on non-resident taxpayers who were initially subject to the surcharge.
TaxTMI 