Demand notice of Rs.5000/

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A taxpayer received an income tax demand notice for Rs 5000 from 2014, despite a notification waiving demands up to Rs 10,000. The discussion clarifies that while a total waiver of up to Rs 1,00,000 per PAN is available, this applies to the aggregate of all outstanding demands. If the total demands exceed Rs 1,00,000, only the eligible demands up to that limit are waived, with the remainder still payable.

Adv SHARAD SURYAWANSHI

Adv SHARAD SURYAWANSHI (Querist)

11 May 2024 I have received 2014 income tax demand notice Rs.5000/ then the demand up to Rs.10000/ which was in the notification has been waived then why this demand notice
please send your view

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

11 May 2024 The total waiver up to a maximum of Rs. 1,00,000 would be waived off per taxpayer(PAN). If the aggregate of all demands outstanding for a taxpayer or an entity exceed Rs 1,00,000, then the waiver would be limited to eligible demands totaling to Rs 1,00,000 or less. The rest of the demands would continue.

Adv SHARAD SURYAWANSHI

Adv SHARAD SURYAWANSHI (Querist)

11 May 2024 Thank You sir for your reply

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

11 May 2024 You are welcome.

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