https://www.taxtmi.com/article/detailed?id=8949 Selection for income tax scrutiny targets returns with indicia of understatement-large cash dealings, unexplained bank credits, unsecured loans, capital additions, mismatches between tax audit reports and returns-and may be effected manually by the Assessing Officer or automatically via the department's CASS. On selecting or reopening a case the Assessing Officer must respect notice time limits and undertake a detailed verification: check cash transaction rules, TDS applicability and discharge, vouchers for expenses, reconciliation of turnover with GST and bank statements, genuineness of loans and capital introductions, accounting or stock valuation changes, valuation of investments, long standing receivables/payables, and compliance with income computation standards and entitlement to claimed deductions. en-us Sat, 08 Feb 2020 17:43:28 +0530 Sat, 08 Feb 2020 17:43:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8949 Selection for income tax scrutiny targets returns with indicia of understatement-large cash dealings, unexplained bank credits, unsecured loans, capital additions, mismatches between tax audit reports and returns-and may be effected manually by the Assessing Officer or automatically via the department's CASS. On selecting or reopening a case the Assessing Officer must respect notice time limits and undertake a detailed verification: check cash transaction rules, TDS applicability and discharge, vouchers for expenses, reconciliation of turnover with GST and bank statements, genuineness of loans and capital introductions, accounting or stock valuation changes, valuation of investments, long standing receivables/payables, and compliance with income computation standards and entitlement to claimed deductions. Articles Income Tax Sat, 08 Feb 2020 17:43:28 +0530 https://www.taxtmi.com/article/detailed?id=8949