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of <h1>New Guidelines for Tax Refunds and Demands u/s 245: CPC to Process Small Claims Below Rs. 5000 Without Adjustments.</h1> The circular addresses the procedure for handling tax refunds and demands under Section 245 of the Income-Tax Act, 1961, specifically when amounts exceed Rs. 5000. It allows the Centralized Processing Center (CPC) in Bangalore to issue refunds without adjusting demands if either the outstanding demand or the refund claim is below Rs. 5000. It instructs Assessing Officers to verify and correct demands, communicate findings to CPC, and process refunds accordingly. A list of relevant cases is available on the i-Taxnet platform for reference and action.
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