Govt excludes salaried class from IT during current fiscal
By Our Banking Bureau | 20 Oct 2003
New Delhi: The Indian finance ministry has decided to exclude the salaried segment from the purview of scrutiny during the current fiscal, marking a departure from the past where some of these cases were picked up for scrutiny.
Salary returns will not figure in the separate and fresh set of scrutiny guidelines to be issued shortly for non-corporate assessees, which include firms, individuals, Hindu-undivided families and association of persons, among others.
Tax
is deducted at source for salaried employees, whose
contributions to the personal tax kitty are substantial.
A conscious decision has been taken to specifically
exclude salary returns from scrutiny as the intention
is to minimise harassment.
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