Income Tax Scrutiny: Criteria behind Selection of ITRs for scrutiny I-T Scrutiny: The Income Tax Department recently released guidelines outlining how they will select tax returns for scrutiny in the financial year 2024-25. These guidelines offer taxpayers greater transparency, helping …
CBDT highlighted that, the recent amendments, introduced by the Finance Act 2021, have reduced the time limit for serving notices under Section 143(2) to three months from the end of the financial year in which the return is filed. The …
Income Tax Scrutiny on NRIs – Focussing on 181 Days Threshold Triggering the Tax Liability In recent developments, the Income Tax Department has intensified its scrutiny of Non-Resident Indians (NRIs), requesting sworn statements to ascertain the exact number of days …