CBDT works hard to make income declaration scheme a big success
July, 11th 2016
The Central Board of Direct Taxes (CBDT) is taking the required steps to make the income declaration scheme (IDS) a huge success.
It has chalked out a three-pronged action plan to steadfast the process amongst I-T departments across the country, said Arun Giri of taxsutra.com.
In the annual information return (filed by bankers and financial institutions), it has been found out that almost 60 lakh transactions that took place were without a valid PAN number. Another 60 lakh non-income tax filers with potential income-tax liability have been identified.
Bearing this in mind, the CBDT has directed the Indian revenue services (IRS) officers to monitor all the data to sought the defaulters.