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March 2011

Instructions No. 2/2011 (F.No. 225/25/2010/ITA-II), dated 9-2-2011 — Processing of returns of A.Y. 2010-11 — Section 143 of the Income-tax Act, 1961 — Steps to —(reproduced)

By Pinky Shah, Sonalee Godbole
Chartered Accountants
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Full texts of
relevant Notifications, Circulars and Forms are available on the BCAS website :
www.bcasonline.org

66 Instructions No. 2/2011 (F.No. 225/25/2010/ITA-II), dated
9-2-2011 — Processing of returns of A.Y. 2010-11 — Section 143 of the Income-tax
Act, 1961 — Steps to —
(reproduced)

The issue of processing of returns for A.Y. 2010-11 and
giving credit for TDS has been considered by the Board. In order to clear the
backlog of returns, the following decisions have been taken :

(i) In all returns (ITR-1 to ITR-6), where the difference
between the TDS claim and matching TDS amount reported in AS-26 data does not
exceed Rs.1 lakh, the TDS claim may be accepted without verification.

(ii) Where there is zero TDS matching, TDS credit shall be
allowed only after due verification. However, in case of returns of ITR-1 and
ITR-2, credit may be allowed in full, even if there is zero matching, if the
total TDS claimed is Rs. five thousand or lower.

(iii) Where there are TDS claims with invalid TAN, TDS
credit for such claims is not to be allowed.

(iv) In all other cases TDS credit shall be allowed after
due verification.

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