Action against tax evaders likely
BEWARE OF new campaign of the Income Tax Department if you are a tax-evader. The department is now scrutinising tax returns showing no or very little income on fake figures to evade the income tax.india Updated: Jan 20, 2006 01:05 IST
BEWARE OF new campaign of the Income Tax Department if you are a tax-evader. The department is now scrutinising tax returns showing no or very little income on fake figures to evade the income tax.
While scrutinizing returns of private nursing homes, the IT officials found that a five-storey hospital in Krishnanagar was showing much income on its returns which was not payable despite roaring practice and crowd of patients at the nursing home.
After gathering concrete evidence, a team of IT officials yesterday raided the said nursing home.
The nursing home-owner admitted that he was concealing the real income and also admitted undisclosed income of over Rs 45 lakh. It is the first case of its kind in the City and more are likely to be unearthed during the campaign launched against the tax evaders.
According to IT officials, it was found during scrutiny of returns that a well-equipped nursing home was showing a meager income on which no tax was payable. Interestingly, the owner had neither prepared or maintained detail accounts of his income nor any audit was ever done.
The doctor has agreed to pay a sum of Rs 13.5 lakh for the current fiscal on the undisclosed income and has already paid Rs 5 lakh as first installment.
The ‘operation’ was conducted by a team of IT officials led by Additional Commissioner VK Tiwari, Assistant Commissioner SH Usmani and Income Tax Officer CK Singh. In a similar operation, a businessman of Rajendra Nagar admitted undisclosed income of Rs 30 lakh and paid tax on December 7 last.
The IT officials claimed that the number of such sophisticated tax evaders was on the rise in the city and the department was maintaing a close watch on them and if needed the department would initiate legal action against such offenders under Section 135 ‘A’ of the IT Act.