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News INCOME TAX

  • May 11, 2020
  • Taxmen are using the lockdown to build stronger cases against defaulters

    The government has asked its tax officers to start collecting and analysing data on all major tax disputes as they are unable to hit the ground due to Covid19 pandemic.

    The Central Board of Direct Taxes (CBDT) has asked the tax officers to not issue any notices for now but collect data that will help settle half the pending litigation.

    In a note to the tax officers CBDT said that identifying issues in all major tax issues would be crucial during next three months.

    Many suspect that due to the increased ground work by the revenue department the tax demands may become more in-depth and lead to more companies paying up.

    “There is a major shift in the approach of the government wherein the emphasis is more towards qualitative rather than quantitative measures. The focus is more on identification and strong preparation of cases which are worth picking up for reassessment, said Rahul Garg, partner, Asire Consulting.