PROCEDURE FOR SCRUTINY OF RETURNS FROM FY 2019-20 ONWARDS
The new procedure for scrutiny of returns applies to taxpayers who file their returns for FY 2019-20 onwards.
The procedure involves a two-stage process of verification and assessment.
Verification involves checking the correctness of the return and may be done through online or offline methods.
Assessment involves a detailed examination of the return and may result in adjustments to the income, deductions, or tax liability.
Taxpayers will be notified of the scrutiny through an intimation letter and will have to respond within 30 days.
The new procedure aims to reduce the number of cases selected for scrutiny and increase transparency and accountability.
Taxpayers should ensure that their returns are accurate and complete to avoid scrutiny and potential penalties.
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