: IT surveys will be conducted by investigation wing, TDS directorate: CBDT #FinanceIndia #StockMarketNEWS I-T surveys will be conducted by investigation wing, TDS directorate: CBDT New Delhi, Aug 14

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IT surveys will be conducted by investigation wing, TDS directorate: CBDT #FinanceIndia #StockMarketNEWS
I-T surveys will be conducted by investigation wing, TDS directorate: CBDT New Delhi, Aug 14 (KNN) The Central Board of Direct Taxes (CBDT) has confirmed that the income tax surveys to collect information for scrutiny assessment will be undertaken only by the investigation wing and the tax deducted at source (TDS) directorate with effect from Thursday.

In an order, the CBDT said officers in Directorate General of Income Tax (DGIT) (Investigation) and Principal Commissioner of I-T/Chief Commissioner of I-T (TDS) "only and exclusively" shall be the competent authority for approving survey actions with effect from August 13, 2020.

The survey action u/s 133A of the Act being an intrusive action, it is expected that the same should be carried out with utmost responsibility and accountability," the CBDT said, adding that with faceless assessment the department is moving towards minimal interface with taxpayers.

In an I-T survey, tax officers visit business premises of the taxpayer to gather information by way of examination of books of accounts, data stored electronically and also access email communication.

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