Simplified Laws Guide to Taxation and Legal Concern

Central Board of Direct Tax (CBDT) has approved and finalised the parameters for selection of cases under Computer Aided Scrutiny Selection of Cases (CASS) on 28-08-2015 and 1st cycle of all the notices selected under section 143(2) of income tax (CASS) has already been despatched by assessing officer. (AST – …

The “Guidance Note on Tax Audit u/s 44AB of the Income Tax Act, 1961- Edition 2014” issued by The Institute of Chartered Accountants of India (ICAI),  is one of the important guidance issued by ICAI and is referred not only by our Chartered Accountants but also by assessing officers and in various judicial forums. Revised guidance note …

At present, income tax return filed by tax payers are mostly accepted by income tax department without any questions except processing and sending intimation u/s 143(1) of income tax Act.  In a very small percentage of cases scrutiny assessment are conducted u/s 143(3) of the income tax act and cases …