20 C
Guwahati
Saturday, November 9, 2024

I-T department to conduct scrutiny where assessees failed to respond to taxmen’s notices

- Advertisement -
- Advertisement -

NEW DELHI, May 28 (PTI): The Income Tax department has come out with guidelines for selection of cases for scrutiny, under which cases wherein assessees have not responded to I-T notices will be picked up for compulsory examination.

The department will also undertake cases for scrutiny where specific information regarding tax evasion has been provided by any law enforcement agencies or regulatory authorities.

- Advertisement -

As per the guidelines, tax officers will have to send a notice under section 143(2) of the I-T Act by June 30 to the assessee regarding discrepancies in income.

The assessee will then have to produce relevant documents.

It said that where no return has been furnished in response to a notice u/s 142(1) of the Act, the case would be sent to the National Faceless Assessment Centre (NaFAC) which will take further action.

Section 142(1) empowers tax authorities to issue a notice seeking more clarification or further details about where a return has been filed, or if the return has not been filed, then to furnish the required information in a prescribed manner.

- Advertisement -

The tax department will prepare a consolidated list of cases in which assessees have continued to claim I-T exemptions or deduction despite its cancellation or withdrawal by competent authority.

Notice u/s 143(2) of the Act shall be served on the assessee through NaFAC, the guidelines said.

- Advertisement -
The Hills Times
The Hills Timeshttps://thehillstimes.in/
Welcome to The Hills Times, your trusted source for daily news and updates in English from the heart of Assam, India. Since our establishment in 2000, we've been dedicated to providing timely and accurate information to our readers in Diphu and Guwahati. As the first English newspaper in the then undemarcated Karbi Anglong district, we've forged a strong connection with diverse communities and age groups, earning a reputation for being a reliable source of news and insights. In addition to our print edition, we keep pace with the digital age through our website, https://thehillstimes.in, where we diligently update our readers with the latest happenings day by day. Whether it's local events, regional developments, or global news, The Hills Times strives to keep you informed with dedication and integrity. Join us in staying ahead of the curve and exploring the world through our lens.
Latest news
- Advertisement -
Related news
- Advertisement -
7 Scenic Bike Journey With Friends In Arunachal Pradesh Top 10 Most Expensive Schools In India 8 Most Happiest Animals In The World 10 Places You Must Visit In Northeast India This December 10 Best Places To See Snowfall In India This Winter