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of <h1>New Circular Revises Tax Write-Off Limits; Introduces Three-Tier Committee Structure for Efficient Processing.</h1> The circular revises the monetary ceilings for the write-off of irrecoverable direct tax dues and restructures the committees involved in recommending such write-offs. A new three-tier committee structure is introduced, comprising Zonal, Regional, and Local Committees, each with specified monetary limits for write-offs. The Local Committee handles demands up to Rs. 1 lakh, the Regional Committee up to Rs. 10 lakhs, and the Zonal Committee beyond Rs. 10 lakhs. The Ad-hoc and Summary Procedures have also seen increased monetary ceilings. All other existing conditions remain unchanged, and these instructions are effective immediately.
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