TMI BlogReview of Summary Assessment Scheme.X X X X Extracts X X X X X X X X Extracts X X X X ..... issued in regard to the scope, structure and procedure relating to the Summary Assessment Scheme. The redesigned scheme shall be implemented with immediate effect and applies to current as well as arrear assessments to be completed during the current financial year. 2. Income limits for Summary Assessment Scheme - Income-tax assessments in all Non-company cases where the returned income in the assessment year under consideration and the assessed income in the two preceding assessment years is less then Rs.75.000 in case of registered firms or Rs.50,000 in other cases shall be completed u/s 143(1). This general rule is subject to the exceptions listed in paragraph 4 below. 3. The income limits prescribed in paragraph 2 above are applicab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aimed. 5. Company cases excluded. - For the removal of doubts, it is clarified that all company assessment have been excluded from the purview of the Summary Assessment Scheme. 6. Slip and extracts. - Intimation slips and survey extracts should not be allowed to interfere with the completion of assessment in summary cases. These should be verified independently if such verification results in the detection of escaped income action should be taken u/s 143(2)b/147. 7. Petty tax evasion complaints - Assessment in summary cases should not be held up for verification of tax-evasion complaints indicating an escapement of income of less then Rs.25,000. Such complaints should be investigated independently and if necessary, the completed asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ium has increased or LIP relief is being claimed for the first time) 10. Defects in verification not be ignored.- It may be clarified that the omission to mention assessment year and the capacity in which the person is making the return in the verification portion of the return shall not be ignored. All defects in this portion must be got rectified through the Deficiency Letter (Annexure II). 11. Other defects.- Similarly defects other than those listed in Paragraph 9 above, shall be got rectified by sending a Deficiency Letter (Annexure II) to the assessee. For the removal of doubts it is made clear that if any particular defect is to be ignored as mentioned in para 9 above, that defect need not be indicated in the Deficiency Letter. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otice which will be served in the manner laid down in Section 282. 15. Sample Scrutiny. - Some of the cases in which assessments have been made under the Summary Assessment Scheme should be picked up for scrutiny. This should not be by reopening u/s 143(2)(b), an assessment already completed in summary manner u/s 143(1). The scrutiny should relate to the assessment which will be taken up in the following year. For example, some of the cases in which assessments have been made u/s143(1) during financial year 1977-78 would be picked out for scrutiny in respect of the assessment taken up in 1978-79. In the current year, scrutiny will be made of some of the cases in which summary assessments were made during the year 1976-77. The procedure ..... X X X X Extracts X X X X X X X X Extracts X X X X
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