Govt urges taxpayers to disclose true income and pay appropriate taxes

Government urges all tax payers to disclose their true income and pay appropriate taxes within the current financial year;
A Compliance Management Cell has been set-up to ensure follow-up action and track return filing and tax payment of the target segment; 70,000 letters are being sent in 2 batches to high priority cases in this month

The Union Finance Minister Shri P. Chidambaram has repeatedly emphasized that there is need for a non-intrusive tax administration to enable the tax payer to file his/her return and pay appropriate taxes.

In the statement made by the Revenue Secretary, Government of India to the media on 11th February 2013, he had mentioned that the Directorate of Systems has undertaken a business intelligence project to identify PAN holders who have not filed Income Tax Return and about whom specific information is available in Annual Information Return (AIR), Central Information Branch (CIB) data and TDS/TCS Returns. Information in the Cash Transaction Reports (CTRs) of FIU-IND was also included as part of this data matching exercise. This data analysis has identified target segment of 12,19,832 non-filers linked to more than 4.7 crore information records. 

Leave a Reply

Your email address will not be published. Required fields are marked *