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What is the purpose of returns?

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The purpose of returns is as follows : -

  1. Mode for transfer of information to tax administration;
  2. Compliance verification program of tax administration;
  3. Finalization of the tax liabilities of the taxpayer within stipulated period of limitation; to declare tax liability for a given period;
  4. Providing necessary inputs for taking policy decision;
  5. Management of audit and anti-evasion programs of tax administration.
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