Tuesday, March 15, 2011

CBDT HIKES LIMITS FOR FILING CASES AGAINST TAXPAYERS

Appeals against taxpayers can be filed before Income Tax Appellate Tribunal (ITAT) only when the tax effect is Rs.3 lakh and above. The earlier limit was Rs.2 lakh. The CBDT has also increased the limit for filing cases against taxpayers in High Courts and Supreme Court. For High Court, the tax effect is Rs.10 lakh against Rs.4 lakh previously. For Supreme Court, it is Rs.25 lakh against Rs.10 lakh earlier.

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