Friday, April 15, 2016

CBDT eases rules for 'Staying' tax demand

Now, Assessing Officers can grant a stay of demand until the first appeal is disposed if the taxpayer pays 15 per cent of the disputed demand. The CBDT has further said that in case of any deviation from the standard pre-payment of 15 per cent by the Assessing Officer, the case will be referred to the administrative Principal Commissioner or Commissioner will take a final call. In case, despite a 15 per cent stay, the tax payer is still unhappy, he can approach the jurisdictional administrative Principal Commissioner or Commissioner.

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