76. Procedure, Formats and Standards for ensuring secured transmission of electronic communication for the purpose of Rule 127 r.w.s 282 notified –
Notification No. 2 dated 3rd February 2016
77. Clarification of the term ‘initial assessment year’ in section 80lA (5) of the Income-tax Act, 1961 –
Circular No. 1 dated 15th February 2016
It is clarified that the term ‘initial assessment year’ would mean the first year opted for by the assessee for claiming deduction u/s 80lA out of a slab of fifteen ( or twenty) years, as prescribed under the relevant sub-section.
78.Atal Pension Yojana (APY) notified as a Pension Scheme for the benefit of section 80CCD –
Notification No. 7 dated 19th February 2016
79. Time-limit of six months prescribed under section 154(8) of the Act is to be strictly followed by the Assessing Officer while disposing applications filed by the assessee/ deductor/collector under section 154 of the Act. –
Instruction No. 1 dated 15th February 2016
New form 9A prescribed and Rule 17 and Form 10 amended – Forms to be furnished by the charitable trust to the Income tax authorities before the due date of filing of the return of income-
Notification No. 3 dated 14th January 2016- Income-tax (1st Amendment) Rules, 2016
81. Certain technical glitches solved regarding online issuance of Certificates u/s. 195(2) and 195(3) of the Act –
TDS Instruction no. 51 dated 4.2.16
82. Procedure for adjustment of refunds in case where notice u/s. 245 of the Act has been issued–
Office Memorandum dated 29.01.2016
CBDT has stated that in cases where the tax payer has contested the demand raised by the department, the jurisdictional AO would be issued a reminder to either confirm or make appropriate changes in the demand based on the contention of the assessee. This needs to be responded by the AO within 30 days, post which CPC would issue the refund without adjustment of the demand in absence of any communication from the AO.
