Tag Archives: stay of demand

Stay of demand : CBDT Guidelines

Stay of demand (Stay of demand as per  Income tax Act 1961 ) Stay of demand : Revised guidelines of CBDT PRESS RELEASE, DATED 3-3-2016 With a view to streamline the process of grant of stay of demand when the case of the taxpayer is pending before Commissioner (Appeals) and to standardize the quantum of… Read More »

Pay 15% for Stay of Income at demand at CIT (A) : Office Memorandum No 404/72/93 ITCC DATED 29-2-2016

SECTION 220 OF THE INCOME-TAX ACT, 1961 – COLLECTION AND RECOVERY OF TAX – WHEN TAX PAYABLE AND WHEN ASSESSEE DEEMED IN DEFAULT – AMENDMENT OF INSTRUCTION NO.1914, DATED 21-3-1996 TO PROVIDE FOR GUIDELINES FOR STAY OF DEMAND AT FIRST APPEAL STAGE OFFICE MEMORANDUM [F.NO.404/72/93-ITCC], DATED 29-2-2016 Instruction No. 1914 dated 21-3-1996 contains guidelines issued by… Read More »