TaxTMI 
TaxTMI 
Credit for tax paid- Procedure.
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....e payment of tax is made before the introduction of the scheme of acceptance of direct taxes by public sector banks in addition to the RBI and SBI or after that scheme. 3. Some of the CsIT pointed out to the Board certain types of cases which cannot be covered under the said procedure. Certain other difficulties were also pointed out in following the existing procedure. 4. The matter has been ex....
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....ocedure requires vide step II-A of the annex to boards Instruction No.1225 that the payment should be verified from the DCR which would be taken as conclusive proof if there is a record therein of reconciliation of totals of DCR and the treasury figures. It further provides that in the absence of reconciliation a reference should be made to the treasury officer for certifying the payment. It has b....
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....ses the powers of the various authorities for giving credit would be regulated in the following manner:- i) ITO - Rs.500 per challan subject to a maximum of Rs.2500 per assessee. ii)IAC - Upto Rs.2000 per challan subject to a maximum of 10000/assessee. iii)CIT -Rs.10,000 per challan subject to a maximum of Rs.50000/assessee. iv)Zonal commitee consisting of ---- Upto Rs.50000 per challan subjec....
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....heme of tax payments. It has been decided that in such cases you may kindly furnish to the Board the following details;- 1. Name of the assessee 2. Amount of each payment challan wise. 3. Date of payment. 4. Brief description of the nature of evidence with the assessee and with the Department. 6. These statements may please be sent to the Board latest by 28th February 1981 and should be compl....