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of <h1>Revised Tax Assessment Procedures: Ledger Card System Tracks Errors by Officers, Influences Evaluations, Explanations Required for Major Mistakes.</h1> The circular from the Department outlines revised procedures for handling mistakes in tax assessments due to increased scrutiny by internal and external audit organizations. A ledger card system will track errors made by Income-tax Officers, influencing their performance evaluations. Explanations for mistakes will not be routinely requested unless they are likely to be highlighted in audit reports to Parliament. Explanations are mandatory for significant errors or when there is suspicion of misconduct. Quarterly statements for cases with a tax effect of Rs. 10,000 or more are no longer required due to the new ledger card system.
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