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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Verification Process for Income Declarations Over Rs. 25,000; Errors Over Rs. 1,000 Prompt Assessee Notification.</h1> The circular instructs that statements or estimates filed by assessees should be verified to ensure accurate declaration of total income and tax. This verification must be conducted by an Upper Division Clerk (UDC), Head Clerk, or Inspector, different from the one recording the entries, immediately after the entries are made. The check is limited to cases where total income is Rs. 25,000 or more. If errors are found resulting in additional tax of Rs. 1,000 or more, the Income-tax Officer should notify the assessee to correct the statement and pay the additional tax. This procedure should be implemented immediately.
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