https://www.taxtmi.com/article/detailed?id=12364 CBDT implements remission of small outstanding direct tax demands as on 31 January 2024, with per-entry monetary thresholds by assessment year and an overall aggregate ceiling per taxpayer; TDS/TCS demands are excluded. Interest need not be included when calculating the aggregate ceiling. The scheme applies to tax and stand-alone interest, penalty, fee, cess or surcharge components where eligible, extinguishes amounts chronologically with fractional amounts ignored, precludes claims for credit or refund of waived sums, and does not grant immunity from ongoing litigation. Implementation is to be carried out by the Centralised Processing Centre within the prescribed short timeframe. en-us Mon, 26 Feb 2024 18:02:25 +0530 Mon, 26 Feb 2024 18:02:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12364 CBDT implements remission of small outstanding direct tax demands as on 31 January 2024, with per-entry monetary thresholds by assessment year and an overall aggregate ceiling per taxpayer; TDS/TCS demands are excluded. Interest need not be included when calculating the aggregate ceiling. The scheme applies to tax and stand-alone interest, penalty, fee, cess or surcharge components where eligible, extinguishes amounts chronologically with fractional amounts ignored, precludes claims for credit or refund of waived sums, and does not grant immunity from ongoing litigation. Implementation is to be carried out by the Centralised Processing Centre within the prescribed short timeframe. Articles Income Tax Mon, 26 Feb 2024 18:02:25 +0530 https://www.taxtmi.com/article/detailed?id=12364