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April 2011

Scrutiny norms for small taxpayers and senior citizens — Press Release dated 14-3-2011.

By Pinky Shah, Sonalee Godbole, Chartered Accountants
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In the aforementioned Press Note, during the financial year 2011-2012, the CBDT has decided not to subject to scrutiny small taxpayers being individuals and HUFs who have their annual taxable income less than 10 lakhs before availing deduction under Chapter VIA and senior citizens (age 60 and above), except when the tax officers have credible information.

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