Taxpayers, check ITR portal now: Pending tax demand of up to Rs 1 lakh per individual waived by govt

The Central Board of Direct Taxes (CBDT) via an order dated February 13, 2024, stated that the tax department has started remitting and extinguishing eligible old tax demands which were outstanding as of January 31, 2024.

"Consequent to the Order of the CBDT in 375/02/2023-IT-Budget dated 13.2.2024 eligible outstanding direct tax demands have been remitted and extinguished. Please log into your account and follow the path Pending Action Response to Outstanding Demand to check the status of 'Extinguished Demands' in your case," said CBDT in the order dated February 13, 2024, published on February 19, 2024.

The remission and extinguishment of tax demand shall be subject to the maximum ceiling of Rs 1,00,000 (Rupees one lakh) for any specific taxpayer/assessee for the following types of demand entries:

a) Principal component of tax demand under the Income-tax Act, 1961 or corresponding provisions of Wealth-tax Act, 1957 or Gift-tax Act, 1958 and

b) Interest, penalty, fee, cess, or surcharge under various provisions of the Income-tax Act, 1961, or corresponding provisions, if any, of the Wealth-tax Act, 1957, or Gift-tax Act, 1958.

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Income Tax Department Grapples with 9.7 Million ITR Backlog, Taxpayers Await Refunds

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