Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | 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 :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: empanelment :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: TDS :: due date for vat payment :: form 3cd :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: VAT Audit :: cpt :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« Direct Tax »
 RBI releases draft directions on hedging of commodity price
 Unexplained deposits in focus, taxmen ordered to go all out in the next three months
 Why India’s corporate tax rate should be cut
 Best ways to save tax under section 80C
 Govt may exceed direct tax collection target of FY18 Budget estimates
 CBDT relaxes MAT provisions for companies under corporate insolvency
 CBDT relaxes norms for MAT on firms facing insolvency
  Income-tax deduction from salaries during the financial year 2017-18 under section 192 of the Income-tax Act, 1961
 CBDT to appeal for revival of certain deregistered companies
 How the new tax regime fared in India these last 6 months
 Income Tax Slab for AY 2017-18: Know your tax category

Adopt uniform procedures for non-filers of I-T returns: CBDT
September, 25th 2013

With an aim to check tax evasion, the Central Board of Direct Taxes (CBDT) has tightened norms to deal with 'no-filers' of income tax returns and asked its officers to follow uniform procedure in handling such cases.

"The existing procedure for monitoring cases of 'non- filers of I-T Returns'...has been examined by the Board. It is felt that at present, cases of non-filers are not being uniformly monitored by the Assessing Officers due to lack of consistency in approach in dealing with such cases," the CBDT said in a communication to its top officers.

Therefore, in order to streamline the processing of such cases and to ensure consistency in monitoring 'Non-Filers Monitoring System' (NMS) cases by the Assessing Officers, the CBDT has issued "standard operating procedure".

As per the guidelines, the Assessing Officer has to issue letter to the assessee within 15 days of the case being assigned in NMS, seeking information about the return of income flagged in the system.

In cases where the assessee has been identified and no return has been filed within 30 days of the time given in the letter, the Assessing Officer should consider initiation of proceedings as prescribed.

The CBDT (Income Tax Department) has identified about 12 lakh non-filers and has been sending letters to them to file returns and pay taxes. As per the latest data, the tax department has issued letters in 2.45 lakh cases.

Following issuance of letters to non-filers, CBDT earlier said, about 3.44 lakh returns have been received from the target segment. Such persons, it said, have also paid self assessment tax amounting to Rs 577 crore and advance tax of Rs 408 crore.

The department has also made it clear that it will to go after recalcitrant taxpayers and the exercise will continue till all potential non-filers are covered.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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