I-T wing identifies 30,000 ITR cases for scrutiny

Why?

* They tried to regularise their unaccounted income by filing tax returns

What kind of cases are these?
 

* Cash in hand reported is significantly higher than the income declared in the previous years

* People who filed returns for the first time, reported cash in hand of Rs 5 lakh or Rs 10 lakh

What will be the action taken?

* Notices have been sent out by the tax department. If found to be a defaulter, he/she will face a penalty of 50%-200%

Demonetisation triggers higher returns

* E-filing of returns sees 21% growth up to August 1 at 23.3 million filers, up from 19.2 million filers last year

To facilitate manual filing of I-T returns on August 5, the CBDT has directed necessary arrangements be made for receiving ITRs up to midnight in all its offices