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Now a times, what Now we have paid out as tax or TDS/TCS if any deducted or gathered continues to be mirrored in Type 26AS.

Part 241A is barely to apply for AY 2017-2018 and for subsequent assessment yrs. The segment was released as being a Specific evaluate to address the concern of recovery of revenue in Uncertain cases(Explanatory Notes to Finance Monthly bill).

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Area 237 states that if any person satisfies the Examining Officer that the amount of tax paid by him or on his behalf or handled as compensated by him or on his behalf for a selected evaluation 12 months exceeds his revenue tax legal responsibility for that yr, he shall be delivered a refund of the surplus.

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There’s a phrase that’s ubiquitous in Indiana. You see it on chalkboard signals beyond bars. You listen to it from supporters, coaches and players. It had been emblazoned on T-shirts at Match 3 of your NBA Finals. It’s even the slogan for your point out’s basketball Hall of Fame.

eight. The CBDT reserves the power to look at any grievance arising from an purchase passed or not passed with the authorities stated in para 1 previously mentioned and challenge acceptable directions to them for proper implementation of the Circular.

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Area 237 on the Cash flow Tax Act, 1961 promotions with Cash flow Tax refund of excessive tax paid from the assessee. If any person or assessee satisfies the assessing officer that the amount of the tax paid by him or compensated by anyone on his behalf for the duration of any earlier assessment 12 months exceeds the quantity with which he is thoroughly chargeable under the act for that yr, he is entitled to refund of surplus total paid out.