« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  PAN to be must for all bank transactions... ICFAI’s BCom course to help CA aspirants... » Crorepati brokers face I-T scrutiny August, 10th 2007 Stock and commodity brokerages with earnings of Rs 1 crore or more a year will be compulsorily scrutinised by the Income-Tax Department, thanks to a new directive issued by the Central Board of Direct Taxes (CBDT) for selection of cases for scrutiny. This decision to probe the returns of brokers with Rs 1 crore brokerage has been taken in the backdrop of a market that has been growing incessantly for the past three years. Tax authorities apprehend that only a slice of the gains made in the stock as well as commodity markets eventually gets taxed. The searches carried out by the I-T department in the course of the last few years have convinced the revenue authorities that a substantial part of the income generated in the market go untaxed. For example, sources in the department said that more than Rs 10,000 crore may have been laundered through manipulation penny stocks alone. Further, the CBDT has also said that even stock and commodity brokers and their sub brokers with a bad debt claim of Rs 5 lakh or more will come under scrutiny. The guidelines also makes it clear that the finance ministry seeks to closely monitor the multi-national companies operating in India. The CBDT procedure says all cross-border transactions worth Rs 15 crore or more will be compulsory scrutinised.