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of <h1>CBDT Circular Aims to Cut Tax Arrears by One-Third in 1976-77 with Special Squads and Write-Off Scrutiny.</h1> The circular from the Central Board of Direct Taxes (CBDT) outlines strategies to reduce tax arrears by one-third during the financial year 1976-77. It emphasizes the need to focus on arrears from the previous year, particularly those raised in the last quarter, and suggests forming Special Squads to expedite this process. The circular also stresses the importance of promptly processing applications related to tax adjustments and credits. Additionally, it mandates scrutiny of demands outstanding for over ten years for potential write-offs and requires detailed reporting on arrear reduction progress by April 30, 1977.
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