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of <h1>Directorate Urges Quick Provisional Assessments u/s 141A to Avoid Unnecessary Interest Payments; I.A.Ps to Report Cases.</h1> The Directorate of Inspection has emphasized the importance of promptly conducting provisional assessments under Section 141A of the Income Tax Act, 1961, to prevent avoidable interest payments under Sections 214, 243, and 244. Internal Audit Parties (I.A.Ps) are instructed to review cases where such interest payments could have been avoided and report these instances to the concerned Commissioner of Income Tax (C.I.T.). This directive aims to ensure timely assessments and minimize unnecessary financial liabilities for the tax authorities.
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