With fiscal math under pressure due to lower buoyancy in tax collection, the government is eyeing advance tax payment to meet the revised Budget target of Rs 12 lakh crore for the current fiscal.
Following the recommendation of Justice RM Lodha Committee, SEBI has allowed investors to file claims for PACL. The last date for receipt of claim applications is April 30, 2019.
The court said I-T Department should have the right to adjust the demands against the refunds that may arise but have not yet been determined due to the ongoing scrutiny proceedings.