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News INCOME TAX

  • May 26, 2023
  • I-T returns: Norms notified for compulsory scrutiny

    Search and survey cases, income tax notices where no return was furnished as well as cases, where specific instances of tax evasion was detected will be taken up for complete scrutiny during the current financial year by the income tax department.

    “Cases, in respect of which specific information pointing out tax evasion for the relevant assessment year is provided by any law-enforcement agency, and the return for the relevant assessment year is furnished by the assessee,” listed the Central Board of Direct Taxes (CBDT) as one of the parameters for compulsory selection of returns for complete scrutiny during the fiscal 2023-24.