Thursday, 6 September 2012

Resolve All Arrears Demand Grievances Within 30 Days: CBDT To CCITs

Vide letter dated 3.09.2012 addressed to Chief Commissioners and Director Generals of Income-tax, the CBDT has stated that the issue of demand management continues to remain an area of grave concern and that in most of the cases demand uploaded is incorrect and incomplete. It is stated that such demands have been uploaded by AOs without due diligence and verification and that adjustment of such demands against refunds is leading to public grievances. The CBDT has directed that it is imperative to correct the demand data base and quickly rectify cases, where wrong adjustments have taken place and that all arrears demand grievances should be resolved within 30 days.

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Kolkata ITAT holds Husband's HUF not falling in the definition of ‘Relative’ of a Wife for gift-tax purposes under Income-tax

  Kolkata Tribunal has recently ruled that HUFs cannot be treated as “relatives” under the gift-tax provisions of the Income-tax Act, thereb...