Juneja Speaks On Income Tax Surveys & Other Matters

Ludhiana, December 4, 2015: Income Tax Department may conduct survey and surprise check on those persons who have taxable income but are not filing income tax returns as well as on those who are not maintaining their account books properly, regularly & correctly. These views were expressed & highlighted by Mr Ashok Kumar Juneja, Advocate as key speaker of study circle meet held today by Taxation Bar Association (TBA) on the topic Power to call for Information & Survey U/s 133 & 133 A-B-C of Income Tax Act, 1961. He enlightened the TBA general house that department can conduct survey of business & professional premises to find evidences of undisclosed income and on & the functions ceremonies e.g. marriages & parties etc to check the source of expenses made on such events.

Mr. Juneja who is also President of Punjab Tax Bar Association (PTBA) further enlightened that if proprietor, employee or any other person attending business gives statement that books & documents are lying at residential premises of person concerned or in the office of Lawyer/tax practitioner/C.A. then survey can be conducted at these places also.

Mr. B.R. Kaushal, Convener Study Circle (TBA) highlighted the provisions of interest paid on borrowed capital and latest judgments of Supreme Courts, High Courts& various tribunals on different topics& provisions of I.T. Act.

Mr. Kaushal, who is also Secretary General of Punjab Tax Bar Association said that Mrs. Anita Kapur, chairperson CBDT & Special Secretary to GoI vide her letter No. FN 282 /11/15-IT.V/69 had directed the concerned high ups of the department that at least 25 Lacs new asseeses who are having taxable income be enrolled to widen the income tax base in India.

Mr. Tarlok Bhalla, President & General Secretary Rishi Khanna highlighted other issues& items of agenda to be taken in  December meeting with Principal Commissioner of Income Tax I & III by virtue of which department`s work may be more streamlined. Such issues are relating to pending refunds & rectification application, to send copy of rectification to assesses, grant of refund legal heir, issuance of proper receipts of misc DAK in Ranges/wards, to open receipt counter at Range-III, PAN & RECORD transfers, to fix a day for public meeting , demand on account of tax credit mismatch should not be enforced coercively and Assessing Officers should upload the stay order where demands have been stayed and adjustment of arrears by the CPC against refunds alongwith other issues.

The meeting ended with vote for thanks in favour of Juneja for highlighting provisions of surveys.