Chase those who skip returns: FM
Finance minister P Chidambaram on Tuesday asked income tax (I-T) officials to target those who have not filed taxes as the department moves to meet the Rs 6.68 lakh-crore direct tax collection target this fiscal year.business Updated: May 28, 2013 21:48 IST
Finance minister P Chidambaram on Tuesday asked income tax (I-T) officials to target those who have not filed taxes as the department moves to meet the Rs 6.68 lakh-crore direct tax collection target this fiscal year.
“Tax officials should target non-filers and stop-filers to widen the tax base and tax collections,” Chidambaram said while addressing top officials of the Central Board of Direct Taxes (CBDT).
“We are in favour of intelligence and technology-based tax collection system which is both non-intrusive and non- evasive,” Chidambaram said and asked tax officials
to “make quality assessments and issue quality orders along with speed.”
CBDT chairperson Poonam Kishore Saxena said: “Budget estimate of 2013-14 is daunting compared to last year. We are expected to grow at the rate exceeding 19%.”
The I-T department has identified 12 lakh assesses who are non-filers or stop filers and issued letters to about 1.75 lakh asking them to declare their true income and pay taxes.
“The response to this initiative has been very encouraging and a large number of taxpayers have paid taxes and filed income tax returns. A compliance management cell has been set-up to monitor return filing and tax payment of the target segment,” a finance ministry official said.
The income tax department has also initiated a data warehouse and business intelligence (DW & BI) project to develop an integrated platform for effective utilisation of information to promote voluntary compliance and deter non-compliance.