« Top Headlines » Open DEMAT Account in 24 hrs  Notification No. 27/2023 CENTRAL BOARD OF DIRECT TAXES  How to calculate income tax on stock market earnings along with your salary?  10 things to remember while investing in tax saving fixed deposits (FDs)  How HRA exemption can help you save tax in 2023-24  Filing ITR On Your Own? A Senior Income Tax Expert Suggests This  Income tax return filing for FY22-23: Form 16 issue date, ITR forms and more  Notification No. 22/2023 CENTRAL BOARD OF DIRECT TAXES  Four tax-saving tools for your investment portfolio  How to decide which Income Tax Regime is good for you in FY 2023-24  How to maximise your tax refund: Strategies for smart filing  How to optimise tax savings under the new tax regime in FY24? «  Net direct tax collections top Rs 1 lakh cr... Tax services or we will: Centre... » 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'.