WebAug 16, 2024 · Thereafter, petitioner received a communication dated 13-05-2024 being intimation under Section 245 of the Act from the Centralised Processing Center, IT Department whereby petitioner was informed that their return for AY 2024-20 had been processed at CPC and the refund will be adjusted against the outstanding demand. WebHeld Section 245 envisages that when a refund is found to be due to any person Revenue can set off/adjust amount to be refunded or any part of that amount Giving of prior …
CPC Issues Instruction on Reduction in Time Limit for Submitting ...
WebFeb 14, 2024 · Section 245 Intimation of the Income Tax Act 1961-How to Reply?This video explains what steps needed to be taken when you received a notice under #sec245 of... WebJul 5, 2013 · While deciding applications under Section 154, or passing an order under Section 245, the Assessing Officers ore required to know and follow the said principle. ... In the later cases, the Assessing Officer cannot turn around and enforce the demand created by uncommunciated order/intimation under Section 143(1). magic natura animal waterpark all inclusive
Income Tax: How to respond to an intimation under Section 245 …
WebSep 17, 2024 · This is sent under Section 245 of the Income Tax Act, that empowers the assessing officer (AO) to adjust the previous year’s demand of tax payable with current year refund amount. The intimation usually states that taxpayers need to respond to the assessing officer or CPC Bangalore regarding why such adjustments shall not be made. WebDec 6, 2024 · In our previous articles, we have discussed Section 245 of the Income-tax Act, 1961. Before going further, let’s take a glimpse of section 245 of the Income-tax Act, 1961.. As per this section, if any person has a pending outstanding demand of earlier years and he has claimed the refund in the relevant financial year then the department may … WebNov 17, 2024 · The processing of ITRs, providing intimation under Section 143(1), furnishing the rectification under Section 154, and processing of refunds would be quicker when performed online. But the same is seen that in various cases the assessee has obtained the intimations under section 245 in which the former outstanding demand for … magic names female