Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: ACCOUNTING STANDARDS :: form 3cd :: cpt :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: VAT RATES :: empanelment :: TDS :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
Direct Tax »
 10 Points Deadline For Income Tax Returns Filing Only 2 Weeks Away.
 Income tax returns (ITR) filing: A step by step guide to check your ITR status online and offline
 How to save tax; amazing tips to make your money stay in your wallet Income tax returns (ITR) filing
 Want to save tax? Here are the best options
 Suggestion For Option To Assessee For Higher And Lower TDS/TCS For Optimization Of Tax Collection And Refunds
 CBDT to conduct nationwide review of tax collection for FY18 today
 Here are a few last-minute tax saving ideas Not planned taxes yet?
 Confessions of a fake CA exposes lacuna in e-filing of tax return
 Greetings from the income tax department
 Scrambling to scrounge proof of tax-saving investment
 5 tips to save your money Do not make this big income tax returns filing mistake

We do not withhold refunds or scrutinise small taxpayers: CBDT
October, 06th 2015

The Income Tax department does not withhold refunds of small taxpayers nor does it generally select their tax returns for scrutiny and detailed analysis, the CBDT has said in an attempt to dispel two of the biggest concerns of this category of assesses.

The chief of the apex policy-making body of the I-T department, CBDT Chairperson Anita Kapur, said she would like to bust the myth and "fear psychosis" that once people file their tax returns, they automatically come on the radar of the taxman and then they are tracked.

Kapur, in an interview to PTI, said in cases of neatly filed electronic Income Tax Returns (ITRs), the department has set a deadline of six months for refunds to be generated and sent to the taxpayer.

"We tell the taxpayers that in e-file returns we take a maximum of six months to process it if you have a clean return and no TDS mis-match. But then there is a misinformation campaign that we hold refunds. I will say we don't hold refunds for small taxpayers.

"For large taxpayers, if it is a scrutiny case, then we have to hold it as per law till the scrutiny assessment is over but not for small taxpayers if their ITRs are all correct," she said.

"We are not interested in holding up small returns," the CBDT chief said.

Kapur said her second area of concern over which she would like to put the record straight is the version that taxman puts the cases of small and middle-category taxpayers on the scrutiny list which entails submission of additional documents and visits to the assessing I-T officer.

Citing an example, she said no tax inspector can just go to a person, like a fruit-seller, and say he has to file his I-T return or that his return is going to be scrutinised.

"We are told that people are scared that once tax department knows about them after they have done filing (of ITR) then they are tracked and followed and they stay on the radar of the I-T department. We want to tell the taxpayers that only in less then one per cent cases you will be asked to come to the tax department for scrutiny of your case.

"And even this less than one per cent category is not discretionary selection by the assessing officer. It is a computer-based programme where risk parameters are fed in, algorithm is developed, and based on that cases get selected," she said.

The CBDT boss said when these parameters are built in, they are done in a manner that "in fact, small taxpayers don't get selected and these parameters are to detect big tax evasion".

"So, small taxpayers should not be scared of entering the department, doing e-filing and even manual filing," she said.

This kind of a fear psychosis, Kapur said, is totally "unwarranted".

"Now, when we are holding out this assurance to you that only less then one per cent cases I am going to scrutinise then I am not looking at small taxpayer. The tax evasion probability of a small taxpayer is less and hence he is not selected for scrutiny.

"So, if a small taxpayer is willingly paying his taxes, we assume that why would he want to evade taxes? For us, it's a good situation. This is one way of doing things for the small taxpayer," she said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions