Income Tax Scrutiny Criteria

  • Sep
  • 27

Limited Income Tax Scrutiny of cases selected under CASS – CBDT

Central Board of Direr Taxes vide instruction no. 7/2014 dated 26.09.2014. by virtue of its powers under section 119 of the Act, in suppression of earlier instructions/ guidelines  on this subject, hereby directs that tile cases selected for scrutiny during the Financial Year 2014-2015 under CASS, on the basis of Either AIR data or CIB […]

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  • Sep
  • 27

Scrutiny of Income Tax Returns

Once we file a return of income tax to the tax authorities, it has to be assessed as a correct return unless it is a self assessment return under section 139 of Income Tax Act. The assessment of returned income involves verification and scrutiny of the details of income submitted.

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  • Sep
  • 04

Income Tax Scrutiny Criteria for Financial Year 2014-15

Compulsory manual selection of cases for scrutiny during the Financial Year 2014-15. Instruction No. 6/2014 Dated- 2nd of September, 2014 Subject: Compulsory manual selection of cases for scrutiny during the Financial Year 2014-15-regd :- In supersession of earlier Instructions on the above subject, the Board hereby lays down the following procedure and criteria for manual […]

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  • Aug
  • 02

7 things to know about Income-tax ‘Scrutiny’

1. What is Scrutiny? Once the assessee files his return of income, irrespective of whether it is filed within the due date or in pursuance to a notice requiring the assessee to file his return, the department can initiate scrutiny proceedings if it has reason to believe that income is escaping assessment, i.e. income is under stated of expenditure is over stated.

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  • Mar
  • 14

Scrutiny on the basis of data in Annual Information Return (AIR)

CA. M. Lakshmanan As per notification F.No. 225/26/2006-ITA.II (Pt.) dated 8th September 2010 scope of enquiry in the scrutiny cases selected on the basis of information collected from AIR returns would be limited to the aspects of information received through AIR.

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  • Oct
  • 15

Late submission of ITR-V – Is it a tool to avoid scrutiny?

Advocate C. P. Chugh Every year date for submitting of ITR-V is extended beyond 30th Sep.  This year CBDT has extended the date for for receipt of ITR-Vs in CPC,  Bengaluru, for the cases of AY 2012-13 and 2011-12 received in e-filed in FY 2012-13 to 31St October 2013. Is it not a good tool […]

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  • Aug
  • 07

Scrutiny Criteria for F.Y. 2013-14 / A.Y. 2014-15

The following categories of cases / returns shall be compulsorily scrutinized for F.Y. 2013-14 / A.Y. 14-15:- a) Cases where value of international transaction as defined u/s 92B of IT Act exceeds Rs. 15 crores. b) Cases involving addition in an earlier assessment year on the issue of transfer pricing in excess of Rs. 10 Crores or more which is confirmed in appeal or is pending before an appellate authority.

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  • Apr
  • 18

RTI -Income-tax department return scrutiny guidelines should be public – HC

The expression, economic interest, thus takes within its sweep matters which operate at a macro level and not at an individual, i.e., micro level. In my view, by no stretch of imagination can scrutiny guidelines impact economic interest of the country. These guidelines are issued to prevent harassment to assessees generally. 

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  • Feb
  • 29

Income Tax Scrutiny Criteria for F.Y. 2011-12 / A.Y. 2012-13

1. Where value of international transaction as defined u/s. 92B exceeds Rs.15 Crore. 2. Cases where there was addition of Rs.10 Lacs or more in earlier assessment year and question of law or fact is confirmed in appeal or pending before appellate authority. 3. Cases in which addition of Rs.10 Crore or more was made in earlier assessment year on the issue of transfer pricing.

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  • Sep
  • 14

Guidelines / Criteria For Income tax Scrutiny for Financial Year 2010-11 / Assessment Year 2011-12

SELECTION CRITERIA APPLICABLE TO ALL RETURNS AT ALL STATIONS: a) Value of international transaction as defined u/s 92b exceeds Rs. 15 crores. b) Cases involving addition in an earlier assessment year in excess of Rs.10 lacs on a substantial and recurring question of law or fact which is confirmed in appeal or is pending before an appellate authority. c) Cases involving addition in an earlier assessment year on the issue of transfer pricing in excess of Rs.10 Lakhs or more. d) Assessments in survey cases for the financial year in which survey was carried out This criteria will not apply if all of the following conditions are fulfilled:

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