It Scrutiny On The Way; Have You Paid Your Taxes?
Mar 25, 2019 By Admin
In it’s endeavor to increase the tax base and to keep a check on defaulter, the IT Department has set up the Centralized Verification Centre(CenVC) and is planning to issue first set of e-notices to non-filers. Notices are being sent to the non-filers who have made a financial transaction but haven’t filed their tax returns. Large number of cases is of demonetization period.
The returns filed during the Assessment Year 2017-18 are being dealt first. The CenVC will send email notices with a questionnaire with 10 days response time. The entire process will be computerized without any human interference.
The CenVC will process and scrutinize all the financial data available in its database and match it with the return filed. The data from various sources such as Registrar of Companies, Banks, Insurance Companies and other financial institutions will be assessed in order to match figures with facts.
Published by : RAKESH KANWAR & CO.
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