Under the new e-assessment system, four lakh taxpayers will face scrutiny

New delhi date. September 26, 2019, Thursday

Under the new Faceless Assessment Scheme, four lakh taxpayers have faced the scrutiny of the income tax department. One lakh taxpayers have been given notice and clarification has been sought within 3 days on the returns filed by them.

However, out of the one lakh taxpayers who have been served notices, around 3.5 have been returned to the department without notice.

The Income Tax department has launched a Computer-Assisted Scrutiny Selection (CASS) cycle for the current year and it is believed to have selected six criteria for checking returns under the new system.

Some criteria, based on which notices have been issued, include disclosure of income from abroad and through fixed properties, high value transactions, misrepresentation of long-term capital gains, discrepancies between tax forms and TDS, non-disclosure of investment made in previous years. Etc. are included.

According to the income tax department action plan, the e-assessment will not be completely faceless initially, as the Assessing Officer in that area can know the details of the taxpayer and can also look at the time the notice is sent.

For CASS-3, the notice of the cases being investigated by a designated tax officer is being prepared and sent through a centralized system, sources in the Income Tax Department said.