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: TDS :: ACCOUNTING STANDARDS :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: form 3cd :: articles on VAT and GST in India
 
 
News Headlines »
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016
 New disclosure scheme could see 50% tax and 4-year limit on cash use for unaccounted deposits
 Pay 50% tax on unaccounted deposits, or 85% if caught, says Modi government
 Deadline to pay property tax in old currency extended
 Cabinet clears amendments to Income Tax Act
 Have you got interest on your income tax refund?
 New income tax rules to curb unaccounted cash

Tax officials should target those who are not filing returns: P Chidambaram, Finance Minister
May, 29th 2013

Finance minister P Chidambaram has told top income tax officials to keep a close tab on those not filing tax returns and ensure that the tax collection target for the current financial year is met.


Inaugurating the annual conference of chief commissioners and director generals of income tax, Chidambaram asked the income tax officials to use modern tech tools in a focused to detect tax evaders to widen tax base and deepen tax collections.

"This year you have to ensure that the 100% collection target is achieved..," he told the conference.

The minister said the department should especially focus on those not filing returns or those who had stopped filing for some reason.

"We are in favour of intelligence and technology-based tax collection system which is both non-intrusive and non-evasive," Chidambaram said and added that the Central Board of Direct Taxes had assured him that it will not only achieve the targets for 2013-14 but would also make every effort to exceed the target.


The government plans to collect over Rs 6.68 lakh crore in direct taxes in 2013-14. The CBDT is focusing on non-filers and stop-filers. As of now it has identified 12 lakh such assessees and issued letters to about 1.75 lakh asking them to declare their true income and pay taxes. The minister said tax revenues are key to building a strong economy and asked the officials to focus on quality assessments and issue quality orders along with speed.


The union cabinet has cleared 20,751 additional posts in the income tax department. "The new structure will enable the department to fulfill their responsibilities with greater efficiency. The senior level posts are being entrusted with greater responsibilities and will stand upgraded," he said.

CORPORATES TOO UNDER SCANNER

Top 6,000 corporates that contribute 90% of the government's corporate tax collections will face a closer scrutiny by I-T authorities. The department is also looking to closely monitor high-value transactions and has sent notices to those found with a dummy PAN or without one.

Senior officials in the department will monitor top 100 cases in connection to advance tax, dividend distribution tax and tax deducted at source. Besides, the investigation wing of I-T department will use the 360-degree profiling software tool along with data from the Financial Intelligence Unit to detect tax evaders.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

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