Income-tax : Streamlining procedure for scrutiny of income-tax returns

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..... Income-tax : Streamlining procedure for scrutiny of income-tax returns - News and Press Release Dated:- 16-3-2011 - News - Income-tax : Streamlining procedure for scrutiny of income-tax returns .....

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..... PRESS RELEASE [NO. 402/92/2006-MC (07 OF 2011)], DATED 14-3-2011 Scrutiny of income-tax returns is an important mechanism for ensuring taxpayer compliance and to counter tax-evasion. However, it h .....

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..... as evoked some concern from small taxpayers and senior citizens about prolonged enquiries. Concerns have also been raised about selection of the same cases in scrutiny year after year. Appreciating .....

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..... the concern of these taxpayers and with a view to mitigate their hardships, Central Board of Direct Taxes has reviewed its scrutiny selection procedure. In order to redress the grievance, it has been .....

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..... decided that during the financial year 2011-12, cases of senior citizens and small taxpayers, filing income-tax returns in ITR-1 and ITR-2 will be subjected to scrutiny only where the Income Tax depar .....

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..... tment is in possession of credible information. Senior citizens for this purpose would be individual taxpayers who are 60 years of age or more. Small taxpayers would be individual and HUF taxpayers .....

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..... whose gross total income, before availing deductions under Chapter VI-A, does not exceed Rupees ten lakh. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - tax .....

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..... managementindia.com - TMI - TaxTMI - TMITax .....

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