CBDT CIRCULAR IN JULY 2010

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SANKET (Querist)

19 February 2011 Can anyone tel where i find CBDT Circular dated July 2010 as "refund claim settled by not seeing online tax credit but just by the TDS Certificate of the assessee".
plz reply...

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

20 February 2011 It is not for that, but settlement of refund as follows

The CBDT has issued a Notification on Processing of Returns of Assessment Year 2009-10. The same is reproduced below for your ready reference:

Processing of returns of Assessment Year 2009-10 - Steps to clear backlog

Instruction No. 5/2010 [F.No.225/25/2010-ITA-II], dated 21-7-2010

The issue of processing of returns for Asst. year 2009-10 and giving credit for TDS has been considered by the Board. In order to clear the backlog of returns, the following decisions have been taken:

(i) In all the returns filed in ITR-1 and ITR-2, for the Asst. Year 2009-10, where the aggregate TDS claim does not exceed Rs. Three lakh (3 lacs) and where the refund computed does not exceed Rs. 25,000; the TDS claim of the tax payer shall be accepted at the time of processing of the return.

(ii) In all the returns filed in forms other than ITR-1 and ITR -2, for the Asst. Year 2009-10, where the aggregate TDS claim does not exceed Rs. Three lakh (3 lacs) and the refund computed does not exceed Rs. 25,000 and there is 10% matching of TDS amount claimed, the TDS claim shall be accepted at the time of processing of the return.

(iii) In all remaining cases, TDS credit shall be given after due verification .

Kind regards,

Deepak R. Shah

Nitin P. Shingala

Hon. Jt. Secretaries

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