CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases

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CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases

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....BDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases News and Press Release Dated:- 16-12-2010 The Central Board of Direct Taxes (CBDT) has clarified that the Income Tax D....

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....epartment is currently scrutinizing only a handful of cases relating to takeovers, mergers and acquisitions; not 380 or 100 as reported in some sections of the media. Tax scrutiny is an ongoing proces....

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....s and the numbers vary from year to year. This has already been stated in replies to several Parliament Questions The Income Tax Department reposes trust in taxpayers. It scrutinizes about 1 percent....

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.... of its total taxpayer base. Selection of cases for scrutiny is risk-based and non-intrusive. Besides, some cases are scrutinized following intensive tax investigation, such as surveys, search and sei....

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....zure. Mere incidence of takeover, merger and acquisition does not qualify a case for tax-scrutiny. The overall scrutiny level by the Income Tax Department has never exceeded 1.5 percent in the last de....

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....cade. News - Press release - PIB....

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CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases