News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax | PPE Safety Kit SITRA Approved | PPE Safety Kit
General »
 Can buying shares in a rights issue leave you in a tax mess?
 Income tax scrutiny down in AY18; Delhi faced the highest, Bihar the least
 Delhi govt warns strict action against companies defaulting on tax payments
 Tax burden on salaried individuals, professionals to increase Delhi
 IT department randomly picks up cases to remove bias from tax scrutiny
 TDS on cash withdrawal alert! New functionality from Income Tax Department for banks and post offices
 Income tax department notifies exemption for sovereign wealth funds
 How much gold can you keep at home as per income tax rules?
 New income tax slab: Rules changed, no exemption on meal vouchers & coupons
 Pharma shines in advance tax pay
 SDMC starts offline facility for depositing property tax

If you are not paying income tax, get ready for I-T department's call
September, 24th 2019

Not paying taxes and having unaccounted income is not going to pay any dividend anymore. The Income Tax Department has set up a huge database of all citizens.

"Sooner or later, you are going to be called upon to explain each of your investment," said PK Gupta, Principal Chief Commissioner, Income Tax Department, who heads Uttar Pradesh (west) and Uttarakhand region.

He was speaking as a chief guest at an outreach programme on creating awareness about TDS and TCS provisions under the Income Tax Act 1961 and apprising the arrear position to government departments, educational institutions, and development authorities.

"Tax professionals and assesses should understand that there is a very thin difference between friendliness and professional ethics. Do not do anything which could be construed as corruption evident. My appeal to all is that if you interact with us, deal with professional ethics and commitment," said Gupta.

However, tax authorities will ensure that no innocent is punished. "But citizens should not distort facts or fabricate false evidence," he said.

The tax collection target for Uttar Pradesh (west) and Uttarakhand for the current financial year is ?35,979 crore.

Last year, the target with 39 lakh taxpayers was ?28,855 crore but authorities collected ?29,099 crore, marking a growth of 22.68 per cent over the previous year.

"This year, we plan to add 6.6 lakh more taxpayers in these regions," said Gupta.

Home | About Us | Terms and Conditions | Contact Us | PPE Kit SITRA Approved | PPE Safety Kit
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting