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of <h1>Income Tax Write-Off Powers Enhanced: IACs, ITOs Can Approve Arrears; Local Committees for Larger Demands Effective August 1976.</h1> Demands exceeding Rs. 2,000 and up to Rs. 1,00,000 must be referred to Local Committees. Effective August 1, 1976, the powers to write off irrecoverable income tax arrears have been enhanced for various officials. Inspecting Assistant Commissioners (IACs) can write off up to Rs. 10,000 without Local Committee referral, while Income Tax Officers (ITOs) Class-I and II can independently write off up to Rs. 1,000 and Rs. 500, respectively. Demands above Rs. 10,000 and up to Rs. 1 lakh require Local Committee recommendations. This aims to expedite the clearance of longstanding arrears by March 31, 1977.
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