COMPULSORY SCRUTINY OF STT & WT RETURNS

The Central Board of Direct Taxes (CBDT) has decided to examine all returns filed in respect of taxable securities transactions for the year 2004-05. The tax department is also tightening the noose around evaders of wealth tax. In addition to issuing scrutiny guidelines for Securities Transaction Tax (STT), it has issued separate scrutiny guidelines for Wealth Tax (WT).