Raising the Monetary Ceilings for Write-off and Reconstitution of Committees.

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....e Board have revised the prescribed monetary ceilings for write-off of irrecoverable dues of Direct Taxes by the various income-tax authorities. At the same time, the Board have reviewed and modified the existing structure of the Committees for recommending write-off. The revised procedure in this regard would be as follows: Regular Procedure: 2. A three-tier structure of Committees (as agai....

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.... Monetary Ceilings for Write-off Local Committee 3 officers of the level of Addl. CIT CCIT ITO/TRO Demand upto Rs. 5,000/-       DCIT/ACIT Demand over Rs. 5,000/- and upto Rs. 25,000/-       Addl. CIT/JCIT Demand over Rs. 25,000/- and upto Rs. 1 Lac Regional Committee 3 officers of the leval of CIT Cadre Controll....

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....recoverable demand exceeding Rs. 500/- requires issue of Irrecoverability Certificate by the Tax Recovery Officer (TRO). Such Certificate will now be required only in cases of irrecoverable demand exceeding Rs. 2,000/-. 3.1 All other conditions and requirements under the Ad-hoc Procedure would remain unchanged. Summary Procedure: 4. The monetary ceiling under this procedure has been raise....