« Top Headlines » Open DEMAT Account in 24 hrs  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Why you need not rush to file your ITR immediately  Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing  Section 80DDB tax benefits for specified illnesses: 5 things to know  Income tax slabs FY 2024-25: Five tips to help taxpayers decide between old and new income tax regimes  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available now on e-filing income tax portal «  BSE A Group, NSE-500 cos may come under I-T scanner... Fill the GAAP gap... » Taxman to haunt BSE A Group, NSE-500 cos August, 16th 2007 The Income Tax Department is likely to scrutinise tax returns of over 700 top companies, which include A-group category companies listed on the Bombay Stock Exchange and NSE-500, to detect possible tax evasion. As part of the Finance Ministry's efforts to meet the target of corporate and income tax collections for the current fiscal, all NSE-500 companies and BSE A-group companies listed as on March 31, 2007 will be "compulsorily scrutinised", official sources told the media. At present, 217 companies are listed at BSE under the A-group. Under the scrutiny process, the Income Tax Department can send notices to the firms to explain any discrepancy in the information provided through tax returns filed, advance tax deposits, tax deduction at source (TDS), and their income and expenditure for up to three years. For the returns filed till July 31, the sources said, the Income tax officers can serve the scrutiny notice any time on or before July 31, 2008. Under the annual action plan, recently approved by the Finance Ministry, the Central Board of Direct Taxes (CBDT) is understood to have directed the Chief Commissioners, Income Tax, to scrutinise the returns of these companies to ensure that they deposited all due taxes, and in time. The sources said all stock brokers and commodity brokers as well as their sub-brokers earning Rs 1 crore or more in brokerage will also be brought under the scrutiny net.