CBDT to monitor Non-Filers for AY 2014-15 who previously e-filed ITRs with returned income above 10 lakhs or paid taxes of Rs. one lakhs or more
Excel for
Chartered Accountants
Income Tax Department to monitor cases of Income Tax Returns Non-Filers for AY 2014-15.
CBDT with a view to augment revenue in its recent communication has asked all Income-tax Principal Chief Commissioners and Chief Commissioners to personally monitor specific cases of Income Tax Non Filers for AY 2014-15.
As per the CBDT communication dated 29-10-2014, till 20-10-2014, a total number of 509898 taxpayers have been identified as those who have previously filed Income Tax Returns (ITRs) electronically for AY 2011-12, or 2012-13 or 2013-14 with returned income of more than Rupees Ten Lakhs (Rs. 10,00000/-) or has paid self assessment tax equal to or more than Rupees One Lakhs (Rs. 1,00,000/-) but have not filed their ITRs for AY 2014-15.
Note:
Under Income Tax Act, 1961, Income Tax Rules, 1962 and Scrutiny Guidelines issued from time to time, the limit of Rs. 10 lakhs have been assigned a significant role in distinguishing and prescribing additional requirements with respect to various compliances as under
|
Section /Rule No./Guidleines |
Section/Rule Heading |
|
Section 44AA |
Maintenance of accounts by certain persons carrying on profession or business |
|
Section-245C |
Application for Settlement of Cases |
|
Rule 114-E |
Furnishing of Annual Information return |
|
Scrutiny Guideline |
Compulsory Manual selection of cases for scrutiny during the financial Year 2013-14 and 2014-15 |
