Let us tell you that Income Tax officials do IT Surveys to bring out any undisclosed assets or income. During this, these things are also taken care of whether the concerned person or business has maintained the account properly or not. The income tax survey is done under section 133A of the Income Tax Act 1961.
During the income tax survey, the tax officers can search the premises of a company or its related places only. During this, officers can search the books of accounts and documents.
Income tax officers conduct income tax searches under section 132 of the Income Tax Act, 1961. This is called income tax raid in the common language. During this, Income Tax officials can search anywhere. Like home, office, or any private or commercial place.
What Is the Difference Between Income Tax Search And Survey?
According to Income Tax law, there is a lot of difference between search and survey. During the IT survey, the officers only search the accounts and documents, while during the search, they can also seize valuable jewelry and property, etc.
IT Survey can be done in any business area only during office hours. During this time, a personal search of people cannot be done. While there is no such compulsion in IT search.
No sabotage is done during the IT survey. If the officers do not get permission to go anywhere in the business area, then the officers can issue a notice, while during an IT search, if there is any doubt, sabotage can also be done.