The purpose of returns :

What is the purpose of returns?

Ans.

a) Mode for transfer of information to tax administration;

b) Compliance verification program of tax administration;

c) Finalization of the tax liabilities of the taxpayer within stipulated period of limitation; to declare tax liability for a given period;

d) Providing necessary inputs for taking policy decision;

e) Management of audit and anti-evasion programs of tax administration.