New Delhi: The Revenue Tax division has come out with tips for collection of instances for scrutiny, underneath which instances whereby assessees haven’t responded to I-T notices shall be picked up for obligatory examination.
The division will even undertake instances for scrutiny the place particular data concerning tax evasion has been supplied by any regulation enforcement companies or regulatory authorities. As per the rules, tax officers should ship a discover underneath part 143(2) of the I-T Act by June 30 to the assessee concerning discrepancies in earnings.
The assessee will then have to supply related paperwork. It stated that the place no return has been furnished in response to a discover u/s 142(1) of the Act, the case can be despatched to the Nationwide Faceless Evaluation Centre (NaFAC) which can take additional motion.
Part 142(1) empowers tax authorities to problem a discover in search of extra clarification or additional particulars about the place a return has been filed, or if the return has not been filed, then to furnish the required data in a prescribed method. The tax division will put together a consolidated listing of instances by which assessees have continued to assert I-T exemptions or deduction regardless of its cancellation or withdrawal by competent authority. Discover u/s 143(2) of the Act shall be served on the assessee by way of NaFAC, the rules stated
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