« Top Headlines » Open DEMAT Account in 24 hrs  How are e-filing and e-payment of taxes different? Know details here  Income Tax return (ITR) filing 2024: What is Form 16, when is issue date and why is it crucial? Explained  Step-by-Step Guide To File Income Tax Return FY 2023-24  Income-tax filing: Should you file your returns in April or wait until July 31?  ITR Filing: 6 Ways to Get Exemption on Income Tax  Income Tax Return Filing: 10 Mistakes To Avoid When Filing ITR For AY 2024-25  Old vs New Tax Regime: Who should move to the New Tax Regime from the old one?  Income Tax Calculator FY 2023-24: How To Know Your Tax Liability Online On IT Dept's Portal?  BackBack Income Tax Act amendment on cards on tax treatment of MSME dues  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing. Check details here  Income tax slabs FY 2024-25: Experts share these 8 benefits for taxpayers in new income tax regime «  Draft of new service tax form issued... E-filing rakes in success... » `Less awareness hindering more tax compliance' October, 09th 2006 Attributing the current buoyancy in direct tax collections of the Government to growing voluntary tax compliance, the Chief Commissioner of Income Tax , Kolkata, Mr D.K. Das, said here today that two things have to be ensured by the department in the current context rewarding the cost of compliance by the taxpayers and making the cost of non-compliance quite heavy for the errant taxpayer. Speaking at a national workshop on `Finance Act '06, TDS, e-Filing and FBT', organised by the Delhi-based Institute of Socio Economic Research & Action (ISERA) here, Mr Das said lack of awareness on the part of the assessees to both changing income-tax laws and the approach of the department was coming in the way of greater compliance. Intensive investigation While the annual information reports filed during 2004-05 have yielded a whole host of information, only 9 out of every 1,000 transactions reported are being taken up for deeper investigation (by the traditional method). In the days to come, even this figure may go down. Explaining the rationale behind the Finance Act and its correlation with the charging section (Sec 4) of Income Tax Act 1961, Mr Das said out of the 4.6 crore PAN cards allotted countrywide, only 2.9 crore are filing their returns. Large taxpayer units Asked on the fate of the large taxpayer units, Mr Das said it was taking time as a complete foolproof system based entirely on a voluntary approach was yet to evolve, going by the response of the large taxpayers. Mr Das said that all the commissioners in the Bengal zone would be meeting on October 20 to finalise their recommendations, which would then be forwarded to the revenue department, which was now working on a new I-T Act.