Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« General »
Open DEMAT Account in 24 hrs
 Advance Tax Paid, Do You Still Need To File ITR? Check Details Here
 Centre seen to have met FY24 gross tax target
 6 income tax rules that salaried should know as financial year 2024-25 starts from today
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India

Tax evaders admit to dodging Rs 860 cr in last fiscal
May, 22nd 2009

Search and seizure operations by the revenue authorities have forced tax evaders in the national capital to cave in and admit that they owe the government more than Rs 860 crore for the last fiscal.

According to an official report of the department, taxmen carried out search, seizure and survey operations in nearly 80 cases, including 30 major ones.

The department also seized jewellery worth Rs 12.93 crore and confiscated Rs 27.77 crore in cash from the offices and premises of individual and corporate taxpayers.

"The I-T department, in the last fiscal, also made the largest cash haul of Rs 14 crore from a single survey on a prominent guthka manufacturer of northern India," an official source said.

Those covered by these operations include real estate firms, infrastructure leasing and building companies, pan masala outfits and the retail business.

The department unearthed evaded tax of Rs 705 crore during operations on residential premises, while they stumbled on Rs 154 crore in surveys at offices and corporate headquarters.

The report also mentioned that the searches were carried out in the NCR, Uttar Pradesh, Maharashtra and Himachal Pradesh among others, the report said.

In its efforts to check tax evasion, the department for the time also deployed its technical arm with the setting up of its new forensic labs in the national capital and Mumbai.

"With the help of high-end software sourced from the Centre for Development of Advanced Computing, the department profiled the small and large taxpayers and scrutinised them for possible tax evasions. The 360 degree profiling done by the department also bore fruits this time," the source added.

The Central Information Branch (CIB) of the department also had routed all the servers for the profiling of taxpayers for the first time in the country.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting