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of <h1>CBDT Urges More Special Audits for Film Producers and Artists u/s 142(2A) to Tackle Unaccounted Income.</h1> The circular issued by the Central Board of Direct Taxes (CBDT) emphasizes the need for assessing officers to refer more cases involving film producers and artists for special audits under section 142(2A) of the Income-tax Act. This directive follows a recommendation from the Public Accounts Committee, which noted the underutilization of compulsory audits in this sector, with only one case referred by March 1985. The Board stresses that invoking this provision regularly could significantly address issues of unaccounted income within the film industry. Officers are instructed to prioritize such audits considering the complexity and revenue implications.
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