Live
- 2024 on track to be hottest year on record
- PM Modi’s visit to Solapur: Women applaud ‘Double-Engine’ government’s initiatives
- Nagarkurnool MLA Dr. Kuchukulla Rajesh Reddy Campaigning in Maharashtra Elections
- Wife Kills Husband with Her Lover: Details of Veldanda Murder Case Revealed by SP Gaikwad
- Strict Action on Violations of Food Rights: Telangana Food Commission Chairman Goli Srinivas Reddy
- Smooth Conduct of Group-3 Exams with Strict Security Measures: Collector Badavath Santosh
- Delhi HC orders cancellation of LOC issued against Ashneer Grover, wife
- Shami’s absence a major blow for India in BGT, says Paul Adams
- Will organize protests at borders if attack on minority Hindus in Bangladesh not stopped: Bengal LoP
- Dutch Ambassador Marisa Gerard Meets Telangana CM A. Revanth Reddy in Delhi
Taxmen can hold surveys at charitable bodies
Income Tax officers can now inspect and scrutinise the books of accounts of charitable institutions with Finance Minister Arun Jaitley proposing to expand the scope of \'Survey\' under I-T Act to include such entities.
New Delhi: Income Tax officers can now inspect and scrutinise the books of accounts of charitable institutions with Finance Minister Arun Jaitley proposing to expand the scope of 'Survey' under I-T Act to include such entities.
Under the existing norms relating to survey, tax officials can enter any place, where business or profession is carried on, or at which any books of account or other documents or any part of cash or stock or other valuable article or thing relating to the business or profession are kept.
"It is proposed to widen the scope of Section 133 by amending sub-section (1) to include any place, at which an activity for charitable purpose is carried on. This amendment will take effect from April 1, 2017," said the memorandum to Finance Bill 2017.
Under the survey action, tax sleuths can visit business premises of the trader/operator and make analysis of the available stock and record it, whereas under search operations, both residential and business premises are visited by the taxman. (PTI)
