Subscribe to the Bombay Chartered Accountant Journal Subscribe Now!

September 2008

Norms relaxed for the corporate tax returns : Internal instructions.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Chartered Accountants
Reading Time 1 mins
fiogf49gjkf0d

New Page 1

Part A : DIRECT TAXES


62 Norms relaxed for the corporate tax
returns : Internal instructions.




  •  Scrutiny not to be undertaken for top 1000 companies, provided no disputes are
    pending against them.



  • If the Tax Department has not raised a demand for more than 10 lakhs over and
    above the taxes paid by the companies, then those companies’ cases would not
    be picked up for scrutiny.



  • In case the capital infused in the company is more than 50 lakhs, then the
    case may be picked up for scrutiny.



  • In case the company has filed for any tax exemption viz. S. 10A, S.
    80IC etc., then the return may be picked up for scrutiny.


 


Download PDF

You May Also Like

Income limits for assigning cases to Deputy Commissioners/Assistant Commissioners, Income-tax officers increased, applicable with effect from 1-4-2011 — Instruction No. 1/2011, dated 31-1-2011.

Scrutiny of Tax Audit Report during assessment proceedings : Instruction No. 9/2008, dated 31-7-2008 (reproduced below)