New Delhi, March 3 (IANS) Giving relief to taxpayers, the Central Board of Direct Taxes (CBDT) on Thursday issued fresh guidelines to field officers for granting stay of demand at the first appeal stage, an official statement said.
"Under the new guidelines, the assessing officer shall grant stay of demand till the disposal of first appeal on payment of 15 percent of the disputed demand before commissioner (appeals)," the finance ministry statement said.
In case the assessing officer proposes deviation from the standard pre-payment of 15 percent, he shall refer it to the administrative principal commissioner or commissioner, who will decide the quantum of demand to be paid as lump sum payment for a stay of the balance demand.
"Where stay of demand is granted on payment of 15 percent of the disputed demand and the assessee is still aggrieved, he can approach the jurisdictional administrative principal commissioner or commissioner for a review of the assessing officer's demand," the statement added.
