CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases

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..... CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases
News and Press Release
Dated:- 16-12-2010

The Central Board of Direct Taxes (CBDT) has clarified that the Income Tax .....

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..... Department is currently scrutinizing only a handful of cases relating to takeovers, mergers and acquisitions; not 380 or 100 as reported in some sections of the media. Tax scrutiny is an ongoing proce .....

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..... ss and the numbers vary from year to year. This has already been stated in replies to several Parliament Questions The Income Tax Department reposes trust in taxpayers. It scrutinizes about 1 percen .....

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..... t of its total taxpayer base. Selection of cases for scrutiny is risk-based and non-intrusive. Besides, some cases are scrutinized following intensive tax investigation, such as surveys, search and se .....

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..... izure. Mere incidence of takeover, merger and acquisition does not qualify a case for tax-scrutiny. The overall scrutiny level by the Income Tax Department has never exceeded 1.5 percent in the last d .....

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..... ecade.
News - Press release - PIB .....

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