SECTION 143 OF THE INCOME-TAX ACT, 1961 – ASSESSMENT – GENERAL – PROCESSING OF RETURNS OF A.Y. 2011-12 – STEPS TO CLEAR BACKLOG – WITHDRAWAL OF INSTRUCTION NO. 1/2012, DATED 2-2-2012
INSTRUCTION NO. 4/2012 [F. NO. 225/34/2011-ITA.II], DATED 25-5-2012
The Board has decided to withdraw Instruction no. 01/2012 issued on 2nd February, 2012 on the subject above with immediate effect. The following decisions have been taken in this regard:
(i) | In all returns (ITR-1 to ITR-6), where the difference between the TDS claim and matching TDS amount reported in AS-26 data does not exceed Rs. Five thousands, the TDS claim may be accepted without verification. | |
(ii) | Where there is zero TDS matching, TDS credit shall be allowed only after due verification. | |
(iii) | Where there are TDS claims with invalid TAN, the TDS credit for such claims is not to be allowed. | |
(iv) | In all other cases TDS credit shall be allowed after due verification. |