CHANGE IN INCOME TAX RULES : A SIGH OF RELIEF

Changes in Rule’s, Ward Officers bounded with Restrictions

Income Tax paid, Every entry is Tally A call arrives, tells there is some issue in income tax returns entries are not tallying, Asks for settlement, the threat’s for Raid, Nothing finds just you suffer is mental and physical harassment/torture.

Last year Income Tax Department added more than 12.15 lakh Crores Rupees Tax to Indian Treasury.

Such kind of experience many of you might have faced, but now leave the worry of Income Tax Raid. CBDT had made several changes in Income Tax Raid rules.

Old method/procedure

  • Scrutiny of Income Tax Return through the Appointed Authority for the ward.
  • If there is any doubt in the Scrutiny, the Right to Raid with the permission of the Commissioner of Income Tax to the Concerned Officer.

New method/ procedure

  • Cancellation of Income Tax returns scrutiny as per ward.
  • Though the returns felt messed up, the Right to Raid is vested to only Investigation and TDS Department officials.

Leave the worry of Income Tax Raid

 What is the advantage of the New system/ Arrangements?

  • Returns from any Ward will be Scrutinized by any Officer.
  • The Lack of Raid Rights will reduce the chances of harassment by the authorities.

As the Income Tax has a very Negative image among various Merchants, this image will soon be changed due to the decision taken by CBDT.

The one who will harass the Merchants on behalf of the settlement will have to face lawful actions.

And this decision will help to improve the image of the Department.

According to New decision, Income Tax Department Officer’s Right to Raid has taken away.

The Department of Investigation & TDS has a Right to Raid.

The order has been passed by CENTRAL BOARD OF DIRECT TAXATION (CBDT).

In order, the Central Board of Direct Taxes (CBDT) has said the officers posted in directorates of investigation and commissioners of TDS, “only and exclusively” shall act as “income tax authority” for raids under section 133A of the Income Tax Act.

Under section 133A of the Income Tax Act, an income-tax officer or any authorized inspector of income tax can enter any place within the limits of the area assigned to him, or any place occupied by any person in respect of whom the income-tax officer exercises jurisdiction or at which a business or profession is carried on, for tax surveys and raids.

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