Relief on old tax demand can’t exceed Rs 1 lakh: Sanjay Malhotra, Revenue secretary

Posted on:
Key Points

The only condition is the relief to a single taxpayer will not exceed 1 lakh..

If an individual demand amount is limited to 25,000, the taxpayer can have more than one demand..

But the total amount that will be withdrawn per individual will not exceed a lakh."Sanjay.

The interim budget has proposed withdrawal of outstanding direct tax demands if the amount is up to 25,000 a year till fiscal 2010 and up to 10,000 between fiscal 2010 and 2014..

But a taxpayer can seek the withdrawal of tax notices for more than one year with a total cap of 1 lakh, revenue secretary Sanjay Malhotra tells Anuradha Shukla and Deepshikha Sikarwar..