The Hon’ble Madras High Court in M/s Mandarina Apartment Owners Welfare Association held that the show cause notice lacked reference to scrutiny under Section 61 of the Central Goods and Services Tax Act, 2017. Instead, it cited data from GSTR-01 and GSTR-3B returns, highlighting discrepancies.
The Income Tax Department has processed 73.71% of all the verified income tax returns (ITRs) as of August 22, 2024, 1 pm. According to data available on the e-filing ITR portal, 7,13,00,901 ITRs were verified and 5,25,53,097 ITRs were processed as on date. This means 26.29% or 1,87,47,804 ITRs are yet to be processed (7,13,00,901 minus 5,25,53,097). If you fall in this 26% group, then you might be curious as to why your ITR has yet to be processed, as more than half of the ITRs have already been processed.
The income-tax (I-T) department has started scrutinising cases for the assessment year (AY) 2018-19 to determine which of them need to be reopened, a process that might result in a raft of tax notices.
A taxpayer can now know exactly why his/her income tax return (ITR) has been selected for scrutiny (close examination) by the Income Tax Department. This is because the Central Board of Direct Taxes (CBDT) has released guidelines via a circular dated May 3, 2024, which are to be followed for compulsory selection of ITRs for complete scrutiny for FY 2024-25.
Department of Trade and Taxes (Policy Branch) Delhi issued an INSTRUCTION dated dated 31.10.2023 regarding Scrutiny of GST Returns for the FY 2017-18.
The GST department will soon begin analysing ITRs filed by businesses and professionals and also MCA filings to ascertain if…
File No. REV03-22024/2/2023-L1 SEC-CCT GOVERNMENT OF ANDHRA PRADESHCOMMERCIAL TAXES DEPARTMENT Office of the Chief Commissioner of State TaxKunchanapalli, Guntur Distict.…
Press release issued by Office of the Commissioner of Commercial Taxes Ezhilagam, Chepauk, Chennai – 600 005 on 18.08.2022. On…
The Comptroller and Auditor General (CAG) has pointed to several gaps in the goods and services tax (GST) regime, including…
Scrutiny means thorough checking of documents, verification of records of business transaction, cross examination of turnover of the taxpayers vis-à-vis…
