Tax scrutiny on charitable trusts, research bodies
new delhi, June 16 -- Income-tax returns of charitable trusts and research institutions that have wrongfully claimed exemptions, as well as entities and individuals that have had repeated additions to their liability, will be automatically selected for scrutiny this year.
The latest guidelines of the Central Board of Direct Taxes (CBDT) mandate senior field officers to issue notices on such income-tax returns (ITRs) until 30 June.
The guidelines are part of the direct taxes authority's efforts to improve compliance. The annual exercise is even more important this year as the government seeks to curb evasion and shore up tax revenue after forgoing Rs.1 trillion in the annual budget to provide relief to the middle class.
According to data ava...
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