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of <h1>Income Tax Commissioners Urged to Halve Annuity Deposit Arrears by Year-End; Address Disputes and Improve Procedures.</h1> The circular addresses the issue of arrears in Annuity Deposits as highlighted in the C&AG's Report for 1974-75. Despite some reductions, Rs. 23 crores remained outstanding by March 1975. Commissioners of Income Tax are instructed to take immediate actions to recover these arrears, including prioritizing appeals and resolving disputes. Reasons for arrears include ongoing disputes, irrecoverable debts, and procedural issues with banks and documentation. The circular outlines procedures for adjusting payments lacking counterfoils and mandates stringent efforts to ensure payments are made promptly. A target of reducing arrears by 50% during the current financial year is set for each charge.
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