Latest Updates on Income Tax Scrutiny | Rajput Jain & Associates

Reasons for Income Tax Scrutiny Triggers/Tax Notices

Reasons for Income Tax Scrutiny Triggers / Tax Notices Every year, 1000 of taxpayers in India receive Tax Notices due to mismatches, omissions, or non-compliance in their tax filings. With the Tax Dept now deploying advanced AI-driven monitoring systems, scrutiny is expected to be more stringent than ever. To avoid penalties, stress, and time-consuming litigation, …

Income tax Return

Overview on Income Tax Scrutiny u/s 143(2) Notices

Overview on Income tax scrutiny under section 143(2) Notices When the Income Tax Department finds discrepancies, whether minor or major, in your income tax returns, a notice is issued under Section 143(2). These discrepancies could involve under-reporting income or over-reporting losses. The notice aims to ensure that you have not underpaid taxes. U/s 143(2) of …

Companies Act / ROC

corporate and professional updates 28th aug 2018

Direct Tax : Kerala HC reverses ITAT order, holds that payment made by assessee (an Indian co.) to a US co. for providing management, financial, legal, public relations, treasury and risk management service, not Fees for Included Services (‘FIS’) under Article 12 of India-USA DTAA, Sec. 195 TDS not applicable; Rejects ITAT view that the US co. facilitated …