CA NeWs Beta*: CBDT Scheme For Processing Of TDS & Adjustment Of Refunds

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Friday, January 18, 2013

CBDT Scheme For Processing Of TDS & Adjustment Of Refunds

With a view to addressing the numerous problems being faced by taxpayers due to faulty processing of TDS claims, the CBDT has formulated the “Centralised Processing of Statements of Tax Deducted at Source Scheme, 2013″. The Scheme provides for the manner in which TDS correction statements will be filed, their processing, rectification of mistakes etc. In particular, it is provided that an adjustment of refunds against outstanding tax demand can be done u/s 245 of the Act only after issuing prior intimation to the taxpayer. An appeal can also be filed against the actions of the CPC.

The Scheme is a step to give effect to the directions of the Delhi High Court in Court On Its Own Motion vs. CIT where the numerous hardships faced by the assessees were noticed

http://www.itatonline.org/info/index.php/cbdt-scheme-for-processing-of-tds-adjustment-of-refunds/

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