Financial Budget update 2024: Outstanding Tax demand waived | Extinguished Demand

Income tax return outstanding demand notice may be waived off as mentioned by Finance minister in Budget 2024 speech.
Outstanding tax demand is worrisome factor for lot of people and old tax demands have very limited or no traceability. So making a filing or clearing that was a problem.
This new budget change is a boon to nearly 10 million people.

Login to Income tax gov in portal and click on pending actions and then click on response to outstanding demand. You may find that there is an new status available Extinguished Demand.
Remission and extinguishment of outstanding income tax demand.

Link to the notification :
https://www.incometax.gov.in/iec/fopo...


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