Tag: income tax

NEW DELHI: While promising to complete assessment of income tax returns at the earliest and issue refunds, the government on Saturday suggested that taxpayers could avail of a facility to adjust earlier demands with this year’s refund claims.Pointing to the legal provision, the Central Board of Direct Taxes said the law allows taxpayers to make a representation before adjusting the refund with an earlier demand.“The taxpayer is required to agree, disagree or clarify the status of the demand. Accordingly, taxpayers with existing demand(s) in the previous years are...