Income Tax : Assessments under Income Tax Act 1961 are made U/S 143, 144, 147, 153. The criteria’s for selection of cases for scrutiny has be...
Income Tax : Gain insights into Limited Scrutiny under CASS and its retrospective nature. Understand the reasons behind case selection and the ...
Income Tax : 1. What is Scrutiny? Once the assessee files his return of income, irrespective of whether it is filed within the due date or i...
Income Tax : Navigate the complexities of Income Tax scrutiny selection based on AIR (SFT) information. Explore how the department leverages da...
Service Tax : With the introduction of the Point of Taxation Rules, 2011 and the advent of negative list-based comprehensive taxation of service...
Finance : Investigating agencies probing alleged financial irregularities in the 2G spectrum allocation have now ordered scrutiny of all cas...
Income Tax : The Central Board of Direct Taxes recently framed a scheme for ensuring quality tax assessments by its officers across India. In t...
Income Tax : Income tax evaders are being pushed into an increasingly tight corner – the I-T department is planning restructuring that will h...
Income Tax : If you’re worried about what questions your income tax officer will ask about your returns, you can relax a bit. The department ...
Income Tax : After taxing investors for dividend stripping, the Income Tax (I-T) Department is gearing up to tax bonus stripping. Official sour...
Goods and Services Tax : Andhra Pradesh High Court held that initiation of demand of tax u/s 74 may be either section 61 (scrutiny of returns) or section 6...
Income Tax : Here we summarised the ruling of the Bangalore Income Tax Appellate Tribunal (ITAT) [2009-TIOL-666-ITAT-BANG] in the case of Bovis...
Income Tax : 8. We have considered he submissions made by both the sides, material on record and orders of the authorities below. We find that ...
Income Tax : Section 127 does not spell out under what facts and circumstances a transfer of a case can be made. However, in a case of inter-ci...
Income Tax : Nicholas Applegate South East Asia Fund Limited Vs Assistant Director of Income Tax (ITAT Mumbai) - The question of application of...
Income Tax : Central Board of Direct Taxes (CBDT) released guidelines outlining the parameters and procedures for the compulsory selection of i...
Income Tax : Board hereby lays down that while proposing to take up 'Complete Scrutiny' in a case which was originally earmarked for 'Limited S...
Income Tax : The functionality for viewing such cases which are selected by AO under Manual Scrutiny on the basis of suggestions by CPC for A....
Income Tax : Instruction No. 19/2015 Instances have come to the notice of the Board that in cases selected under scrutiny, while issuing the fi...
Income Tax : The Central Board of Direct Taxes ('CBDT') , vide Instruction No. 7/2014 dated 26 09.2014 had clarified the extent of enquiry in c...
Instruction No. 14/2015 while scrutinizing the cases of entities engaged in the business of mining, the Annual Returns filed with IBM by the respective assessees should invariably be obtained and compared with the details submitted to the Income-tax Department so as to ascertain whether any suppression of production and discrepancy in stock exists and further necessary action as per provisions of law may be taken.
With the introduction of the Point of Taxation Rules, 2011 and the advent of negative list-based comprehensive taxation of services in 2012, it becomes necessary that the guidelines for detailed scrutiny of returns needed a revision. In this background, the CBEC vide Circular 185/4/2015-Service Tax dated 30th June, 2015 has outlined the manner of detailed manual scrutiny of ST-3 returns to be effective from 01.08.2015.
Compulsory manual selection of cases for scrutiny during the Financial Year 2015-2016- (a) Cases involving addition in an earlier assessment year in excess of Rs. 10 lakhs on a substantial and recurring question of law or fact which is either confirmed in appeal or is pending before an appellate authority. Instruction No. 08/2015
CA Satish Sarda To keep a check on the system of Self Assessment under service tax , with effect from 1st August 2015 Department is coming out with a strong ‘return scrutiny ‘ system. It is going to be a two part system of Preliminary and Detailed Scrutiny. CBEC has recently issued one Circular No.185 […]
The Board vide Circular No. 113/07/2009-ST had laid down the procedure for carrying out detailed scrutiny of Service Tax Returns (ST-3) and had circulated a return scrutiny manual for Service Tax.
The Central Board of Excise and Customs (CBEC or the Board) vide Circular No. 185/4/2015-ST dated June 30, 2015 had laid down the procedure for carrying out detailed scrutiny of Service Tax Returns, to be followed by the Revenue with effect from August 1, 2015. Now, on similar line, the Board has now issued instructions/ guidelines on detailed scrutiny of Central Excise Returns vide Circular No. 1004/11/2015-CX dated July 21, 2015 (the Circular)
A returns scrutiny process consists of two parts viz. preliminary scrutiny and detailed scrutiny. While the preliminary scrutiny system covers all the returns filed online, detailed scrutiny system covers a few returns selected on the basis of identified risk parameters.
CBEC vide Circular No. 113/07/2009-ST dated April 23, 2009 had laid down the procedure for carrying out detailed scrutiny of Service Tax Returns (ST-3 Returns) and had circulated a Return Scrutiny Manual for Service tax.
With the introduction of the Point of Taxation Rules, 2011, which shifted the liability of payment of service tax from receipt basis to accrual basis, and the advent of negative list-based comprehensive taxation of services in 2012, it was felt that the guidelines for detailed scrutiny of returns needed a revision. In this background, it has been decided that detailed scrutiny of ST-3 returns, with effect from 01.08.2015, should be carried out
Representations have been received by the Board from various quarters regarding difficulties being faced on account of surveys and income-tax scrutiny assessments by fish farmers, being involved in business and profession of running inland fresh water fish tanks specifically in cases where the books-of-accounts are not being maintained by the assessees concerned.
