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.