CBDT RELAXES NORMS FOR COMPANY TAX RETURNS

In what could be a major relief to the corporate sector, the revenue department has decided to scrutinize the tax returns of over 1,000 top companies, provided no major disputes are pending
against them and they had been complying with laws. The annual returns of tax complying companies would not be scrutinized this year. The decision has been taken by the Central Board of Direct Taxes (CBDT) to encourage better tax compliance among the corporates.