Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: form 3cd :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: TDS :: list of goods taxed at 4% :: due date for vat payment :: VAT Audit :: empanelment :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ACCOUNTING STANDARD
 
 
Direct Tax »
 CBDT urges people to protect bank accounts from 'unscrupulous elements'
 No change in gold seizure norms in proposed I-T Law amendments
 Direct tax collection will get a long-term boost, Franklin Templeton says
 I-T Act amendments upset calculations of cash hoarders
 Claim tax benefit on costs incurred to evict tenants
 The Integrated Goods And Services Tax Act, 2016
 Here’s what Income Tax Department did leading up to demonetisation
 I-T department asks IDS declarants to pay tax by November 30
 Cash trove tax drive dilemma
  CBDT halves Income Tax refunds issue timeline to 15 days for this fiscal
 CBDT signs four unilateral advance pricing agreements

Income Tax Department likely to issue notices to over 10 lakh non-filers
May, 30th 2013

Tightening its noose on those who do not pay taxes, the Income Tax Department is likely to soon issue notices to over 10 lakh non-filers.

According to sources, the Tax Department has prepared a list of non-filers based on their information records.

"Our data analysis shows that there are over 10 lakh non- filers. We will be soon sending them polite letters to seek their response for not filing returns," an official source said.

The source further added that the department is now relying more on technology-driven regime to trace non-filers, rather than depending on heavy-handed administration.

The revenue department has already sent letters in five batches to 1.75 lakh 'high priority cases' seeking whether the person has filed his income tax return or not.

The letter contained the summary of the information of financial transaction(s) along with a customised response sheet.

The I-T department, sources said, has identified PAN holders who did not file returns based on the department's records covering over 4.7 crore Permanent Account Number holders.

The officials have also verified the record of annual information return (AIR), Central Information Branch (CIB) and TDS/TCS returns. Besides, they also verified data available with the Financial Intelligence Unit (FIU).

The letters are a part of the exercise that the Finance Minister P Chidambaram initiated after he took charge of the Ministry in August last year.

Sources said these letters are part of "non-intrusive" tax administration approach that the Ministry is undertaking to collect taxes in a "just and fair manner".

The government plans to collect over Rs 6.68 lakh crore from direct taxes in the current fiscal, up from Rs 5.65 lakh crore in the previous fiscal.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions