« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  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.