Law Relating to Income Tax Survey with Assessment of Survey Cases – 3/e june, 2020
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- Publisher: Commercial Law Publishers; 3rd edition (2020)
- Language: English
The two most important coercive measures available with income-tax authorities are survey and search. While search, as the Courts have said, is a serious invasion into the taxpayers privacy, the degree of invasion in the case of survey is far less, to the extent that it extends to the business premises only. With increased dependence on voluntary compliance, the Department selects a very few returns for scrutiny. Large number of returns arc accepted summarily without calling for any other information. As a tool for collection of information survey remains an effective tool in the hands of the taxman and serves an important purpose. Survey is an important weapon of the income Tax Department to call for information of various kinds as may be found necessary for making proper assessments, survey is mainly conducted with the object of broadening the tax base by discovering new assesses, to gather information about possible tax evasion by assesses, spot Checking of available cash and stock and to verify in a surprise and systematic manner, whether or not accounts are maintained properly and on Day to day basis etc.