Reporting obligation for excess small-savings investments requires assessors to promptly notify the finance department and Board. Assessing officers who, during income-tax or other direct tax assessments, detect investments in specified small savings schemes exceeding prescribed single or joint limits must report the particulars to the Secretary, Department of Economic Affairs, Ministry of Finance, New Delhi, and send a copy to the Central Board of Direct Taxes; the instruction includes a table of maximum limits for named schemes and notes discontinued issues.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Reporting obligation for excess small-savings investments requires assessors to promptly notify the finance department and Board.
Assessing officers who, during income-tax or other direct tax assessments, detect investments in specified small savings schemes exceeding prescribed single or joint limits must report the particulars to the Secretary, Department of Economic Affairs, Ministry of Finance, New Delhi, and send a copy to the Central Board of Direct Taxes; the instruction includes a table of maximum limits for named schemes and notes discontinued issues.
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