Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 The Government of India has strengthened MSME protection through strict payment rules, ensuring that Micro & Small Enterprises receive timely payments from buyers. Under the MSME Development Act (MSMED Act), 2006, buyers must make payments within:
 ITR Refund Delays in India: Why They Happen & How to FastTrack Your Refund in 2025
 ITR Refund Delay: From Bank Errors To Department Checks, 5 Big Reasons Your Refund Gets Stuck
 Income Tax Slabs 2025: New Vs Old Regime; Which One Is Better For You For FY2025-26?
 Seamless Integration: How Tally Prime Connects Businesses to the Digital Economy
 Govt to notify new ITR forms, Income Tax Act 2025 rules by January 2026: CBDT chief
 Digital Efficiency for MSMEs: The Tally Prime Advantage
 5 Ways Tally Prime Reduces Cost and Boosts Productivity for Startups
 Result of the Information Systems Audit [ISA] Assessment Test held on 8th November 2025 is likely to be declared on late evening (around 9 pm) of 16th November 2025.
 Income Tax: What is revised I-T return which you can file till the end of the calendar year?
 Creating Vouchers Directly from Bank Statements in Tally Prime A Complete Step-by-Step Guide

Taxman to tighten noose,studies returns closely
December, 02nd 2006

Concealing income from the taxmen will be a tougher proposition now. The income tax department proposes to tighten the scrutiny of returns filed by tax payers. At present, the department carries out scrutiny of only 2% of the total tax returns. This ceiling may now be enhanced. Even the norms for carrying out the scrutiny may be tightened. This is important for detecting evasion or concealment of income, sources said. The scrutiny procedures have to overhauled to make them more scientific and effective, they said.

The scrutiny for the assessment year 2004-05 has to be completed by December 31, 2006. The department is also looking to tweak procedures to improve the quality of scrutiny. The department has been under pressure due to shortage of manpower for carrying out scrutiny.

But with e-filing, the department is working towards an electronic environment and some changes are required in the norms for selection of cases. This year, the computer-aided scrutiny selection (CASS) system, which selects cases for scrutiny at random, has picked up 1.5 lakh cases for scrutiny in 60 cities. However, commissioners have also been allowed to pick up cases locally for scrutiny.

For the first time this year, the department will be carrying out scrutiny using the information from the annual information returns. The department has already issued instructions on scrutiny based on AIR to prevent harassment of assessees. But with the information flow increasing, it is examining overhauling the norms.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2025 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting