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>New Procedure for Income Tax Refunds u/s 245 for FY 2015-16: Key Steps and Deadlines Explained.</h1> The circular outlines the procedure for issuing refunds in cases where notices under Section 245 have been issued for income tax returns processed in the financial year 2015-16. For cases not covered by previous relaxations, if a taxpayer contests the demand, the Centralized Processing Center (CPC) will remind the jurisdictional Assessing Officers to confirm or adjust the demand within 30 days. If no response is received, the refund will be issued without adjustments. If the taxpayer does not respond, the CPC will adjust the demand with applicable interest against the refund. Assessing Officers are instructed to adhere to this procedure for pending cases.
TaxTMI 