Income Tax : CS 04 scrutiny examines whether trusts and NGOs validly claimed exemption in ITR-7 despite registration, approval, renewal, cancel...
Income Tax : CBDT has identified six categories of returns for compulsory scrutiny during FY 2026-27. Selection triggers detailed examination b...
Income Tax : The article clarifies that the CBDT's 4 June 2026 instruction governs six categories of compulsory manual scrutiny and is distinct...
Income Tax : CBDT has identified search, survey, and reassessment cases for compulsory scrutiny in FY 2026-27. The guidelines highlight the Dep...
Income Tax : CBDT has provided Guidelines for compulsory selection of returns for Complete Scrutiny for FY 2022-23 also procedure for compulsor...
Income Tax : Revised Instruction for constitution and functioning of Local Committees to deal with taxpayers’ grievances due to high-pitched ...
Income Tax : Though less that 1% of returns filed are selected for scrutiny, this area of work has often drawn adversarial comments. Superviso...
Income Tax : 1. Where value of international transaction as defined u/s. 92B exceeds Rs.15 Crore. 2. Cases where there was addition of Rs.10 La...
Income Tax : Selection of cases for scrutiny during the financial year 2010-11 will be done primarily through CASS this year. Manual Selection ...
Income Tax : The regular assessment tax (RAT) is one of best tools available to the Department to collect taxes. The collection from RAT not on...
Income Tax : Patna HC upholds income tax scrutiny against Patna Smart City Limited, rejecting claims of violation of guidelines and natural jus...
Income Tax : Explore the Madras High Court judgment in Angusamy Gounder Subbu Rathinamun vs. Assistant Commissioner. Insights on Section 143(2)...
Income Tax : The issue under consideration is whether the conversion of case from limited scrutiny to complete scrutiny prior to receipt of app...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : CBDT outlines parameters for compulsory income tax scrutiny for FY 2025-26, including survey, search & seizure cases, registration...
Income Tax : Understand the guidelines set by the Indian Ministry of Finance for the compulsory selection of returns for complete scrutiny duri...
Income Tax : Government of India issues guidelines for compulsory selection of returns for Complete Scrutiny during FY 2023-24. Find the proced...
Income Tax : Central Board of Direct Taxes (CBDT) released guidelines outlining the parameters and procedures for the compulsory selection of i...
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:
The regular assessment tax (RAT) is one of best tools available to the Department to collect taxes. The collection from RAT not only showcases the effort of the Department to collect taxes but can also have a great deterrent effect on the tax evaders. During 2009-10, the Department has collected around Rs 31,242 crone from RAT which is around 8,74% more than the corresponding figure last year. The share of collection from RAT (as a percentage of total collection) has gone up from 921% in 2007-08 to 924% in 2008-09. However there is a great potential in augmenting collection from RAT.
The Central Board of Direct Taxes (CBDT) has advised its field formations to scrutinise all cases in which companies have amortised foreign exchange losses under the one-time discretion allowed by the government through an amendment to Accounting Standard 11 (AS-11).
In a move that could lead to some charitable trusts losing their registration, the income-tax (I-T) department has started scrutinizing the returns they had filed earlier, two officials said. This follows a government directive last year to these trusts to pay income tax on the revenue they earn from commercial activities. “Since not many trusts […]
FOR NON-CORPORATE ASSESSEES In suppression of earlier instructions on the above subject the Board hereby lays down the following procedure for selection of returns / cases of Non- Corporate Assessees for scrutiny during the current financial year i.e. 2007-08. 2. The following categories of cases shall be compulsorily scrutinized; – i) All assessment pertaining to […]
Concerned at the government’s ‘revenue loss’ due to giving ‘large deductions’ while calculating the income tax payable by banks, tax authorities have decided to scan the accounts of lenders, including foreign banks, in minute detail.
The Central Board of Direct Taxes has decided to relax norms on scrutiny of tax payers whose premises have been surveyed by the officials, a step aimed at encouraging evaders to pay up. The decision is likely to provide relief to thousands of taxpayers and it would save them from harassment at the hands of taxmen apart from litigation costs, said a senior Finance Ministry official. The decision has been taken following Finance Minister P Chidambaram’ s assertion that government wanted to send a message that those who comply with the tax laws would not be harassed by the tax officials.
The CBDT has given norms for current fiscal for selection of cases meant for scrutiny. For corporates: All banks and public Sector undertakings are liable for scrutiny. Also, all NSE-500 companies and BSE-A group companies listed in Bombay Stock Exchange as on March 31, 2007, are covered. Companies in Delhi , Mumbai, Chennai, Kolkata, Pune, Hyderabad , Bangalore and Ahmedabad paying book profit tax under Section 115 JB on the book profit of Rs 50 lakh and above are liable for scrutiny. In the case of companies in other places the monetary limit for book profit is Rs 25 lakh.
NEW SCRUTINY NORMS FOR FINANCIAL YEAR 2007-08 – Board hereby lays down the following procedure for selection of returns / cases of *Non-Corporate Assessees* for scrutiny during the current financial year i.e. 2007-08.2. The following categories of cases shall be compulsorily scrutinized; –
