CBDT Instructions on Processing of IT Returns
Processing of returns of A.Y. 2008-09 - Steps to clear the backlog Instruction No. 1/2010, dated 25-2-2010 The issue of processing of I.T. returns for the A.Y. 2008-09 and giving credit for...
Processing of returns of A.Y. 2008-09 - Steps to clear the backlog
Instruction No. 1/2010, dated 25-2-2010
The issue of processing of I.T. returns for the A.Y. 2008-09 and giving credit for TDS has recently been considered by the Board and following decisions have been taken, in order to clear the backlog of returns pending for processing:
i) In all the returns filed in ITR-1 and ITR-2 for the A. Y. 2008-09, where the aggregate TDS claim does not exceed Rs four lakh and where the refund computed does not exceed Rs.25,000; the TDS claim of the tax payer concerned should be accepted at the time of processing of return.
ii) In all the returns filed in forms other than ITR-1 and ITR-2 for the A. Y. 2008-09, where the aggregate TDS claim does not exceed Rs four lakh and the refund computed does not exceed Rs.25,000, and there is 70% matching of TDS amount claimed, the TDS claim of the tax payer concerned should be accepted at the time of processing of return.
iii) In all remaining cases, TDS credit shall be given after due verification.
What is the meaning of due verification in point no. (iii)of this instruction. In my opinion its meaning is not to verify only. Since it is not matching online that is why this point has been added and it gives powers to the AO's to verify the TDS at their level and upto his satisfaction by way of writing a letter to the deductor, obtaining original TDS Certifictes and indemnity bonds from the assessee. But the AO's are insisting that it should be verified online. Please clarity.
ReplyDeleteWhy does not your CA organisation take up the issue with the CBDT and clear the issue for once and all ? What is the meaning of due verification?
ReplyDelete