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of <h1>CBDT revises monetary limits for condonation of delay in refund claims and loss carry forward applications</h1> The Central Board of Direct Taxes issued directions modifying monetary limits for condonation of delay in filing refund claims and carry forward of losses under the Income-tax Act, 1961. Principal Commissioners/Commissioners handle claims up to Rs.50 lakhs, Chief Commissioners handle claims between Rs.50 lakhs to Rs.2 crores, Principal Chief Commissioners handle claims between Rs.2-3 crores, and the Board considers claims exceeding Rs.3 crores. These revised limits apply to applications filed from June 1, 2023, onwards, while other guidelines from the 2015 circular remain unchanged.
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