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Income tax dept may scrutinise more returns
December, 04th 2006
The income tax department is planning to raise the ceiling of two per cent for taking up returns for scrutiny to unearth tax evasion by individual and corporate tax payers. 
 
The Central Board of Direct Taxes (CBDT) has informed the Parliament's Standing Committee on Finance that in line with the recommendation of the committee, the IT department would consider increasing the ceiling of two per cent cases for scrutiny out of total returns filed every year. 
 
More than four crore income tax returns are filed every year in the country. "Leaving a large percentage of tax returns unassessed might prompt the assesses to take a calculated risk in concealing their actual income," the committee, headed by BJP's B C Khanduri, noted in its 42nd report on 'Widening of Tax Base and Evasion of Tax'.
 
 
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