Taxontips
No Result
View All Result
Tuesday, June 6, 2023
Login/ Register
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Talk to an Expert
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
No Result
View All Result
Taxontips
No Result
View All Result

Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2021-22 | Income tax

Income tax Expert by Income tax Expert
June 15, 2021
in Income Tax News
0
Received mail from GSTN “Aggregate turnover being more than Rs. 5 Cr during FY 2019-20” What does this mean?
100
SHARES
1.2k
VIEWS
image_pdfPDFimage_printPrint

Under Income tax there are majorly two type of scrutiny proceedings: Limited scrutiny and complete scrutiny.

In a brief under limited scrutiny the assessing officer can only make inquires and ask for documents on topic related which were mentioned in the initial notice u/s 143(2) of the Income tax act and if an officer want’s to go beyond it he needs to take permission from his superior, whereas under complete scrutiny there is no such restriction.

Hence, it can be said that complete scrutiny is much more detailed as compared to limited scrutiny.

The parameters for compulsory selection of returns for Complete Scrutiny during Financial Year 2021-22 and conduct of assessment proceedings in such cases are prescribed as under:

S No The Parameter Assessment Proceedings to be conducted by
1 Cases pertaining to survey u/s 133A of the income-tax Act, 1961(Act)
Cases pertaining to Survey under section 133A of the Act subject to exclusion below:

Exclusion:

Cases where books of accounts, documents, etc. were not impounded and returned income (excluding any disclosure made during the Survey) is not less than returned income of preceding assessment year are not required to be considered for compulsory scrutiny.

However, the said exclusion is not applicable where assessee has retracted from disclosure made during the Survey and such cases have to be considered for compulsory scrutiny.

(i) After the issue of notice u/s 143(2) of the Act by the Jurisdictional Assessing Officer for compulsory selection, cases selected for compulsory scrutiny which have impounded material, shall have to be transferred to Central Charges u/s 127 of the Act within 15 days of issue of notice u/s 143(2) of the Act.

(ii) After the issue of notice u/s 143(2) of the Act by the Jurisdictional Assessing Officer for compulsory selection, assessment proceedings in respect of cases selected for compulsory scrutiny and where there is no impounded material will be conducted by National Faceless Assessment Centre(NaFAC). The Assessing Officer shall upload the Survey Report in the ITBA at the time of issue of notice u/s 143(2) of the Act.

2 Cases pertaining to Search and Seizure
Assessments in Search and Seizure cases to be made under section(s) 153A, 153C read with section 143(3) of the Act and also for return filed for assessment year relevant to previous year in which the Search was conducted under section 132 or requisition was made under section 132A of the Act. The case‘s falling u/s 153C, if lying outside Central Charges, the Jurisdictional Assessing Officer is required to issue notice u/s 143(2) in cases where return is furnished u/s 153C or 142(1) calling for information in cases where no return is furnished u/s 153C. Such cases shall be transferred to Central Charges u/s 127 of the Act within 15 days of issue of notice u/s 143(2)/142(1) of the Act.
3 Cases in which notices u/s 142(1) of the Act, calling for return, have been issued
(i) Cases where no return has been furnished in response to a notice u/s 142(1) of the Act. These cases will be taken up for compulsory scrutiny by NaFAC.
(ii) Cases where return has been furnished in response to notice u/s 142(1) of the Act and where notice u/s 142(1) of the Act was issued due to the information contained in NMS Cycle/AIR information/information received from Directorate of I&Cl. These cases will not be taken up for compulsory scrutiny and the selection of such cases for scrutiny will be through CASS cycle.
(iii) Cases where return has been furnished in response to notice u/s 142(1) of the Act and where notice u/s 142(1) of the Act was issued due to the specific information received from Law Enforcement Agencies, including the Investigation Wing; lntelligence/Regulatory Authority/Agency; Audit Objection; etc. After the issue of notice u/s 143(2) of the Act by the Jurisdictional Assessing Officer for compulsory selection, assessment proceedings in such cases will be conducted by NaFAC.
4 Cases in which notices u/s 148 of the Act have been issued
(i) Cases where no return has been furnished in response to notice u/s 148 of the Act. In such cases, Jurisdictional Assessing shall issue notice u/s 142(1) of the Act, calling for information regarding the issues on the basis of which notice u/s 148 was issued, subsequent to which, assessment proceedings in such cases will be conducted by NaFAC.
(ii) Cases where return is furnished in response to notice u/s 148 of the Act After the issue of notice u/s 143(2) of the Act by the Jurisdictional Assessing Officer for compulsory selection, assessment proceedings in such cases will be conducted by NaFAC.
5 Cases related to registration/approval under various sections of the Act, such as 12A, 35(1)(ii)/(iia)/(iii), 10(23C), etc.
Cases where registration/approval under various sections of the Act, such as section 12A, 35(1)(ii)/(iia)/(iii), 10(23C), etc. have not been granted or have been cancelled/ withdrawn by the Competent Authority, yet the assessee has been found to be claiming tax-exemption/ deduction in the return. However, where such orders of withdrawal of registration/approval have been reversed/set-aside in appellate proceedings, those cases will not be selected under this clause. After the issue of notice u/s 143(2) of the Act by the Jurisdictional Assessing Officer for compulsory selection, assessment proceedings in such cases will be conducted by NaFAC.

Without prejudice to the above, the cases which are selected for compulsory scrutiny by the International Taxation and Central Circle charges following the above prescribed guidelines, shall, as earlier, continue to be handled by these charges.

The exercise of selection of cases for compulsory scrutiny on the basis of the above parameters and service of notice u/s 143(2) of the Act will have to be completed by 30.06.2021. As per the amendments brought vide Finance Act, 2021, the time limit for service of notice u/s 143(2) of the Act has been reduced to three months from the month of end of the Financial Year in which the return is filed.

These instructions may be brought to the notice of all concerned for necessary compliance.

 

To read full guidance note CLICK HERE.

 

You can book online consultation with expert as mentioned below:

To book phone consultation with experts for Income tax CLICK ME.

To book ITR filing with experts CLICK ME.

To book consultation for Faceless Assessment with experts CLICK ME.

To book phone consultation with experts for GST CLICK ME.

image_pdfPDFimage_printPrint
Tags: Income taxIncome tax noticeonline consultationtax notice
Previous Post

Issue with PDF preview of GSTR 1 – Table 12 showing ‘0’ instead of “N.A.” – GST dept. clarifies

Next Post

Finance Ministry to hold meeting with Infosys on issues in new Income Tax Portal | E-filing 2.0

Related Posts

Last opportunity to file Income tax return for F.Y. 2018-19 | Belated return u/s 139(4) of the Income tax Act
Income Tax News

Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the I.T. Act

June 5, 2023
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
Income Tax News

Due date for filing SFT extended from 31.05.2023 for FY 2022-23?

June 1, 2023
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
Income Tax News

E-appeal scheme, 2023 announced by CBDT, JCIT(A) will now hear appeal [Read notification]

May 31, 2023
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20-
Income Tax News

Limit of exempt income for leave encashment for non-govt employees increased to Rs. 25 lakh [Read notification]

May 30, 2023
ICAI has announced a new MBA programme for Diploma in Management and Business Finance
Income Tax News

ANNUAL FEE CIRCULAR 2023-24 by ICAI for it’s members

May 29, 2023
Amendment in provisions relating to taxability of income of trust by Finance Act, 2021
Income Tax News

Extension in time limit for filing Form 10A, 10AB, 10BD, 10 etc. in relation to trust under Income tax act

May 26, 2023
Next Post
Around 20 issues faced by taxpayers and professionals on the new e-filing portal | E-filing 2.0

Finance Ministry to hold meeting with Infosys on issues in new Income Tax Portal | E-filing 2.0

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Google Custom search

Recent Posts

  • Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the I.T. Act
  • ₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth
  • Due date for filing SFT extended from 31.05.2023 for FY 2022-23?
  • E-appeal scheme, 2023 announced by CBDT, JCIT(A) will now hear appeal [Read notification]
  • Limit of exempt income for leave encashment for non-govt employees increased to Rs. 25 lakh [Read notification]

Recent Comments

  • Notification under PMLA by Ministry of Finance which could affect CA, CS and CMA - Taxontips on CA, CS and CMA now under PMLA. KYC of clients required
  • ITR 4 is now available on e-filing website for FY 2022-23 i.e. AY 2023-24 | File ITR with experts on Taxontips – Taxontips on Businessman with turnover below 1 crore and having profit below 8% need to compulsorily get books of accounts audited: Let’s find out
  • Can a person earning income from speculative business transaction file return u/s 44AD of Income tax act - Taxontips on How to calculate turnover in case of intra day and future and option trading for Income Tax purpose?
  • Extension of last date for updation of Member’s Profile with GSTIN at Self Service Portal – Till 23rd April, 2023 - Taxontips on Updation of Member’s Profile at Self Service Portal with GSTIN to get GST credit till 15.04.2023
  • Akshay Kadam on New error faced in the new Income tax e-filing portal related to log-in of an assessee | E-filing 2.0

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Browse Topics by Date

June 2023
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« May    
  • GSTR 9/ 9C extended : AGAIN

    GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning

    6456 shares
    Share 2582 Tweet 1614
  • How to pay Membership and COP fees of ICAI for 2020-21 |

    6344 shares
    Share 2538 Tweet 1586
  • Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods

    5679 shares
    Share 2272 Tweet 1420
  • Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020

    4771 shares
    Share 1908 Tweet 1193
  • SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type

    3991 shares
    Share 1596 Tweet 998

Recent Notification

Last opportunity to file Income tax return for F.Y. 2018-19 | Belated return u/s 139(4) of the Income tax Act

Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the I.T. Act

June 5, 2023
GST registration

₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth

June 2, 2023

RSS Taxontips

  • Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the I.T. Act
  • ₹1,57,090 crore gross GST revenue collected for May 2023; clocks 12% Year-on-Year growth
  • Due date for filing SFT extended from 31.05.2023 for FY 2022-23?
  • E-appeal scheme, 2023 announced by CBDT, JCIT(A) will now hear appeal [Read notification]
  • Limit of exempt income for leave encashment for non-govt employees increased to Rs. 25 lakh [Read notification]
  • ANNUAL FEE CIRCULAR 2023-24 by ICAI for it’s members
  • Instructions for conducting scrutiny of returns for FY 2019-20 onwards under GST [Read instructions]
  • Extension in time limit for filing Form 10A, 10AB, 10BD, 10 etc. in relation to trust under Income tax act
  • GUIDELINES FOR SPECIAL ALL-INDIA DRIVE UNDER GST
  • Government issues guidelines to calculate net winning for section 194BA of the Act [Read circular]

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Site menu

  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Taxontips

TaxOnTips provides you all tax related solutions in easy way and update you with its regular updates & notifications Visit us for details.
We are based in Jaipur, India

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

No Result
View All Result
  • Login/Signup
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • About us
  • Contact us
  • Ask an expert/ Talk to an expert
  • Q & A
  • Privacy Policy
  • Terms of use

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

Book Phone consultation with expert

Sitting home or at your office and don't have time to visit CA's office or don't know where to consult CA. Book your consultation with an expert practicing Chartered Accountant and get your query solved.

Book a phone consultation for 30 minutes with our expert at a very basic cost.

Book consultation

No thanks, I'm not interested!