Quick Summary
The Central Board of Direct Taxes (CBDT) has recently released comprehensive guidelines pertaining to the compulsory selection of returns for complete scrutiny during the financial year 2024-25. This move aims to enhance transparency and streamline the scrutiny process for taxpayers. Under these guidelines, the CBDT outlines the procedure for the compulsory selection of returns for complete scrutiny in cases where it deems necessary. This includes detailed criteria and parameters that will be
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FAQ :
The new guidelines from the CBDT aim to enhance transparency and streamline the process for the compulsory selection of income tax returns for complete scrutiny during FY 2024-25.
Cases subject to compulsory scrutiny include those related to surveys under Section 133A, search and seizure operations, situations where returns are not furnished after notices under Section 142(1) or 148, cases involving registration/approval issues, recurring additions on appeal, and specific information pointing to tax evasion.
For income tax returns filed in the Financial Year 2023-24, the last date for serving notice under Section 143(2) in cases selected for compulsory scrutiny is 30th June 2024.
Yes, returns furnished in response to a Section 142(1) notice issued due to information from NMS Cycle, AIS, SFT, CPC-TDS, or Directorate of I&CI will not be taken up for compulsory scrutiny; these will be selected through the CASS cycle.
International Taxation and Central Circle charges will follow the prescribed parameters and procedures for compulsory scrutiny, with prior administrative approval. Information for these cases may not be transferred to NaFAC unless the case itself is transferred.
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