Income tax department to encounter evaders | SupportBiz

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Income tax department to encounter evaders

 
The Income Tax department has identified nearly 1.22 million possible tax evaders, based on the information collected by the Directorate of Systems and will soon start follow-up and monitoring for high priority cases, the finance ministry said in a statement on Monday.

The Directorate of Intelligence and Criminal Investigation will issue letters to 35,170 PAN holders soon, asking them whether they had paid taxes or not. The letter will contain the summary of their financial transaction(s) along with a customised response sheet.

The finance ministry also added that a nodal cell has been set up to capture the response and take follow-up action via an online monitoring system, which will track return filing and tax payment of the target group.

Finance minister P. Chidambaram has urged tax payers to disclose their true income and pay appropriate taxes for the current financial year.