What we do
Our work in this practice group is structured around the records, deadlines, and decisions involved:
- Assistance during Income Tax survey-related proceedings.
- Systematic review and organization of books, records, and supporting documents.
- Assistance in preparing explanations and submissions based on the facts of the case.
- Support in addressing discrepancies or issues identified during the survey.
- Assistance with subsequent assessment and verification proceedings.
- Timely coordination and documentation support throughout the proceedings.
- Representation before the Income Tax authorities, where applicable.
How the engagement works
Income Tax survey proceedings are primarily governed by Section 133A of the Income-tax Act, 1961, subject to the applicable provisions and circumstances of the case. A survey may involve inspection of business premises, verification of books and documents, recording or collection of relevant information, and examination of business-related records. Information or findings arising from survey proceedings may subsequently be relevant to assessment or other proceedings under the Income-tax Act. The exact powers exercised and compliance requirements depend on the nature and circumstances of the proceedings.
Scenario 1: An Income Tax authority conducts a survey at a business premises and the taxpayer requires professional assistance in organizing records and responding to the proceedings.
Scenario 2: Discrepancies are identified in stock, cash, books of account, expenses, or other business records during a survey.
Scenario 3: A survey results in further verification or assessment proceedings requiring detailed submissions and supporting documentation.
Scenario 4: A business needs assistance in reconciling its accounting records with information identified during the survey.
Scenario 5: The taxpayer requires professional representation and follow-up support after completion of the survey proceedings.
Survey Proceedings Assistance
We provide professional assistance in understanding the nature and scope of the survey proceedings and help coordinate the relevant financial and business records.
Books & Records Review
We review relevant books of account, financial records, stock records, cash records, invoices, and other documentation to identify inconsistencies or areas requiring clarification.
Reconciliation & Issue Analysis
We assist in reconciling accounting records, stock, cash, transactions, and other information and analyze discrepancies that may arise during or after the survey.
General questions
01What is an Income Tax survey?
An Income Tax survey is a proceeding carried out by authorized Income Tax authorities under applicable provisions of the Income-tax Act, including Section 133A. It may involve inspection and verification of business premises, books, documents, stock, cash, and other relevant records.
02What is the difference between a survey and an assessment?
A survey is an information-gathering and verification proceeding conducted by the Income Tax authorities, while an assessment is a process through which the tax authorities determine or verify the taxpayer’s taxable income and corresponding tax liability based on the applicable provisions.
03What should I do if my business is subject to an Income Tax survey?
The taxpayer should cooperate with the authorized officers, provide the records and information legally required, preserve relevant documents, and seek professional tax assistance to ensure that the proceedings and subsequent compliance are handled appropriately.
04Can a survey lead to an Income Tax assessment?
Yes. Information or findings obtained during a survey may be relevant to subsequent assessment, verification, or other proceedings depending on the facts and applicable provisions of the Income-tax Act.
05What documents may be reviewed during a survey?
Depending on the nature of the business and proceedings, records may include books of account, invoices, purchase and sales records, stock details, cash records, bank-related information, agreements, and other business or financial documents.
06Can you assist after the Income Tax survey is completed?
Yes. We can assist with reviewing the survey-related records, preparing reconciliations and submissions, responding to subsequent notices, and providing support during related assessment or verification proceedings.
