IT officials to get info on assets of tax evaders
The government will arm its income tax officials with details on assets of those whose tax payments are pending, a move aimed at meeting the Rs 13,153 crore target for arrear collection this fiscal.delhi Updated: Sep 06, 2009 21:18 IST
The government will arm its income tax officials with details on assets of those whose tax payments are pending, a move aimed at meeting the Rs 13,153 crore target for arrear collection this fiscal.
With tax arrears of Rs 2,13,646 crore due as on April 1 this year, the Central Board of Direct Taxes (CBDT) is following an Action Plan that includes swift action by tax officials and confiscating assets of defaulters, among others.
“An effective strategy for collection of arrears and current demand is to empower the AO (Assessing Officer or the tax official) with relevant information regarding the movable and immovable assets of the assessees,” a Finance Ministry official told PTI.
The government has already collected tax arrears of Rs 3,548 in the first quarter of this year ( April-June), the official said, adding the collections were in line with expectations.
The action plan for collection of tax arrears, includes quick action by the tax official, ascertaining the tax liability for attachment and recovery of assets of the person whose tax arrear is pending.
“The modes used by the AO are to identify the current assets and take necessary action for attachment and recovery for the same,” the official added.