Wednesday 16 October 2013

HOW TO AVOID SCRUTINY

Every year date for submitting of ITR-V is extended beyond 30th Sep. This year CBDT has extended the date for for receipt of ITR-Vs in CPC, Bengaluru, for the cases of AY 2012-13 and 2011-12 received in e-filed in FY 2012-13 to 31St October 2013.


Is it not a good tool to avoid scrutiny.


1. Pay your taxes, advance tax and self assessment if any on due dates. You are not liable for any interest later on.


2. Submit your return on 31st March to avoid penalty u/s 271F


3 Do not send ITR-V till 30th Sep


4 Post ITR-V after 30th Sep


Your case could never be selected for Scrutiny under CASS because date of furnishing of return is date of furnishing it electronically succeeded by acceptance of ITR-V later-on (within the specified or extended specified period).


Notice for scrutiny can be issued only within six month from the end of the end of the year in which the return is filed and any notice issued beyond that date is illegal and time barred.


Is it not the Irony of our LAW and the LAW MAKERS.

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