Monetary limit
devavrat gupta (22 Points)
15 May 2020
for condonation of delay for issuing the refund, what is the monetary limit in respect of CIT, Pr.cit, CCIT Pr. CCIT.
3 Replies
suraj zanwar
(Student CA IPC / IPCC)
(352 Points)
Replied 15 May 2020
No Condonation for claim of refund or loss shall be entertained beyond six years from the end of the assessment year for which application or claim is made. The limit of six years is uniform for all authorities considering the application or claim
suraj zanwar
(Student CA IPC / IPCC)
(352 Points)
Replied 17 May 2020
1) Upto 10 lakh = Principle Commissioner , Commissioner of Income tax.
2) 10 lakh to 50 lakh = Principle Chief Commissioner , Chief Commissioner of income tax.
3) More than 50 lakh = CBDT
2) 10 lakh to 50 lakh = Principle Chief Commissioner , Chief Commissioner of income tax.
3) More than 50 lakh = CBDT
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