The CBDT has issued an Order vide F. No. 375/02/2023-IT-Budget dated February 13, 2024, announcing the remission and extinguishment of certain outstanding direct tax demands as per the Finance Minister’s budget speech for 2024-25. Demands up to specific monetary limits across various assessment years until 2015-16 are covered, with an overall cap of Rs.1,00,000 per taxpayer. This excludes TDS/TCS demand entries.
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