What is Income Tax Scrutiny?
Income tax scrutiny involves the detailed examination of tax returns filed by taxpayers to verify accuracy and compliance with tax laws.
It is conducted to ensure that the taxpayer has correctly reported their income, paid the appropriate taxes, and complied with all tax laws and regulations.
Key Aspects of GST Scrutiny
Selection for Scrutiny:
Tax authorities select taxpayers based on risk parameters, discrepancies, or random selection.
Types of Scrutiny:
Desk Review: Preliminary examination without physical presence. Detailed Scrutiny: In-depth examination involving physical verification.
Documents Required:
Income tax returns, financial statements, books of accounts, and more.
Objectives:
Verify tax return accuracy, detect non-compliance, ensure proper tax payment.
Process:
Notice issuance, document verification, outcomes such as rectification or penalties.
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Risk
Management
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