Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: form 3cd :: empanelment :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: VAT Audit :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS
 
 
« General »
 NRIs’ overseas bank info needed only for tax refund
 Non-performance: I-T dept transfers 245 commissioners
 Income Tax efiling: Tax implications resulting from clubbing of income
 Guidelines for selection of cases for scrutiny during the financial-year 2017-2018-regd
  GST: How companies are gaming the system
 Goods And Services Tax transparency: Elimination of added taxes to boost investment in realty
 In a first, Income Tax department to charge govt official under new benami law
 Income Tax Return Filing: 10 common mistakes people make while filing return of income
 Income Tax efiling: A few essential facts for senior citizens to keep in mind
 Pre-GST discounts get Maharashtra 16% more sales tax in three months
 Here’s how self-employed should efile their taxes

Taxman brings in software for post-returns scrutiny
September, 14th 2009

The Income Tax department is deploying a new software solution to scrutinise the accounts of companies once the firms have filed their returns.

The software solution, called CAIT, will help match account books with the returns filed by the respective companies and find out if there is any discrepencies, a key official source said here.

The installation of the software is part of the ongoing efforts by the Central Board of Direct Taxes (CBDT) to modernise its scrutiny system to catch the defaulters.

The CBDT has already installed the 360 degree profiling solution, which assesses expenditure and investments of assessees from various sources and throws up alerts to income tax officers where there could be a possibility of tax default.

This 360 degree profiling, technically called IT-DMS software, throws up cases for scrutiny before returns are filed and the CAIT will do so after submission of returns by companies, the source added.

CAIT will do away with the manual scrutiny of accounts. "Over the years, more and more assessees have taken to maintaining their books of account on computer. The accounts have become more voluminous and complex. However, methods of scrutiny by the Income Tax Department have remained manual," he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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