Survey_Section_133A_Income_Tax_Act_PPT.pptx

Fact-finding visit to collect information useful for assessment
Used to verify books, cash/stock, TDS/TCS compliance; not a full-fledged search
Information/risk flags indicating suppression, non-maintenance of books, TDS/TCS defaults

1. Survey – Section 133A (Income-tax Act, 1961) Purpose, powers, limitations, TDS/TCS survey, differences with search & post-survey actions

2. Concept & Purpose of Survey (s.133A) Fact-finding visit to collect information useful for assessment Used to verify books, cash/stock, TDS/TCS compliance; not a full-fledged search I nformation/risk flags indicating suppression, non-maintenance of books, TDS/TCS defaults

3. Who Can Conduct, Where & When Authorized income-tax author ities (as per the Act/Rules/authorizations) Where : business/profession premises; any other place where business records/cash/stock are kept TDS/TCS survey: payer/collector’s offices ( s.133A ( 2A )) Timing : during business hours; entry into other places (e.g., residence used for business) subject to conditions

4. Powers During Survey (Indicative) Inspect books of account and other documents; place marks/identifiers Check/verify cash, stock-in-trade and other valuable articles relatable to business Impound and retain books/documents (with recording of reasons; retention beyond limited period needs higher approval) Record statements of persons found on premises (not on oath under s.133A ) TDS/TCS survey: require production of deduction/collection records; verify compliance

5. Limitations & Rights No seizure of cash/stock under a survey (seizure is a s.132 power) Statements during survey have limited evidentiary weight; must be corroborated Right to obtain copy of impounding order/inventory; ask for identification & authorization Ensure presence of responsible person; keep stable version of electronic data (hashing/backup)

6. Post-Survey Actions (Typical) Issue of notices u/s 142(1)/143(2) for further enquiry Proposed additions for stock/cash discrepancies; unverifiable expenses TDS/TCS short deduction/collection proceedings ( s.201 / 206C ) after 133A ( 2A ) surveys Information from survey may be used for reassessment proceedings, subject to law

7. Flow chart of Survey under s.133A