What is Power to Call for Information by Prescribed Income Tax Authority? What is Power to Inspect Registers of Companies? Section 133C and 134 of Income Tax Act 1961

Section 133C of Income Tax Act 1961 - Power to Call for Information by Prescribed Income Tax Authority

Section 133C of the Income Tax Act, 1961 enables the prescribed income-tax authority to call for information or documents for verification of information available with it relating to any person.

The authority may issue a notice requiring a person to furnish information or documents, verified in the prescribed manner, which may be useful or relevant for any inquiry or proceeding under the Income Tax Act.

Purpose and procedure under Section 133C

• Verification of information available with the income-tax authority.
• Collection of information or documents relevant to income-tax proceedings.
• Processing and utilisation of information as per notified schemes and applicable provisions.

Section 134 of Income Tax Act 1961 - Power to Inspect Registers of Companies

Section 134 of the Income Tax Act, 1961 authorises specified income-tax authorities to inspect registers maintained by companies.

The Assessing Officer, Deputy Commissioner (Appeals), Joint Commissioner, Commissioner (Appeals), or an authorised subordinate officer may inspect and take copies of registers of members, debenture holders or mortgagees of a company or entries contained in such registers.

Difference between Sections 133C and 134

Related Income Tax Sections

Section 133 - Power to call for information
Section 133A - Power of survey
Section 133B - Power to collect certain information