An office memo has been released by CBDT dated 31 July 2017 in order to amend partially the amount of demand which are to be kept till the case it is under FIRST stage appeal.
Below points may be worth noted which needs to be considered after the memo which has been brought on dated 31 July 2017 basing on the interpretation of the author of this article -
1- All such demand or amounts which earlier required to be kept would now be 20% comparing to the earlier of 15%,
2- The disputed amounts would stands as per the assessment order issued by AO and needs to be deposited with AO before making an appeal to the FIRST level,
3- The deposit of the such demand would be applicable when there is a FIRST level appeal only and additionally there would not be any requirement for any further appeal,
4- Entity/ Assessee needs to consider these kind of additional deposits of amounts in case any demand notice received and assessee wants to go for any kind of appeal,
5- All existing disputed appeal would also be covered under this increased limit and hence needs to deposit additionally 5% of the disputed amount,
refer below to read full memo
http://www.itatonline.org/info/cbdt-modifies-guidelines-for-stay-of-demand-by-the-ao/cbdt-om-stay-demand-ao-modification/
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Below points may be worth noted which needs to be considered after the memo which has been brought on dated 31 July 2017 basing on the interpretation of the author of this article -
1- All such demand or amounts which earlier required to be kept would now be 20% comparing to the earlier of 15%,
2- The disputed amounts would stands as per the assessment order issued by AO and needs to be deposited with AO before making an appeal to the FIRST level,
3- The deposit of the such demand would be applicable when there is a FIRST level appeal only and additionally there would not be any requirement for any further appeal,
4- Entity/ Assessee needs to consider these kind of additional deposits of amounts in case any demand notice received and assessee wants to go for any kind of appeal,
5- All existing disputed appeal would also be covered under this increased limit and hence needs to deposit additionally 5% of the disputed amount,
refer below to read full memo
http://www.itatonline.org/info/cbdt-modifies-guidelines-for-stay-of-demand-by-the-ao/cbdt-om-stay-demand-ao-modification/
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