Income Tax Bill 2025: Clause 268 Details Inquiry Process Before Tax Assessment, Including Notices and Special Audits.

Clause 268 of the Income Tax Bill, 2025 outlines the procedure for inquiry before tax assessment. The Assessing Officer may issue a notice to individuals who have submitted or failed to submit a return, requiring them to provide income details, documents, or a statement of assets and liabilities. Approval from the Joint Commissioner is necessary for certain asset disclosures. The Officer may also direct a special audit or inventory valuation, with approval from higher authorities, if complexities in accounts arise. The costs of such audits are covered by the government, and the assessee is given an opportunity to respond to any findings.