Tighten scrutiny of tax exemption claims on farm income: CAG to I-T Departement
Thursday, August 1, 2019, 8:46 PM
Claims of tax exemption on farm income are on the radar of CAG, with the government's statutory auditor saying that tax officials need to scale up efforts to check evasion in such cases. The CAG also flagged the issue of abuse of tax exemption granted to charitable trusts and institutions, resulting in assessees whose activities were not 'charitable' in nature getting the benefit.
CAG raps income-tax department
Wednesday, July 31, 2019, 8:32 PM
In a scathing report, the CAG has panned the assessment process of the income-tax department (ITD), which it said is riddled with persistent and pervasive irregularities. The department, it said, suffered from structural weakness as well as the absence of appropriate institutional mechanism to address the issue. "Such irregularities were particularly noticeable in the assessment charges in Maharashtra and Delhi," the CAG said.
GST system prone to input tax credit frauds: CAG
Wednesday, July 31, 2019, 8:28 PM
The national auditor has flagged the vulnerability of the goods and services tax (GST) system to fraud, citing as example a settlement under which a taxpayer claimed 79% of the total input tax credit in a month and the matter remained undetected for long. The Comptroller & Auditor General has said these areas in the indirect tax reform need a relook.