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CBDT Identifies 67.54 Lakh Income Tax Non-Filers For 2014-15
Taxman identifies over 67 Lakh potential non-filers for financial year 2014-15.
The Income Tax Department has identified an additional "67.54 lakh potential non-filers" who carried out high-value transactions in 2014-15 but did not file the return of income.
The Non-Filers Monitoring System (NMS) was initiated by CBDT, the policy-making body of the Income Tax Department, for identification of non-filers with potential tax liabilities, reports PTI.
"The Income Tax Department has conducted the fifth cycle of data matching which has identified an additional 67.54 lakh potential non-filers who have carried out high-value transactions in the financial year 2014-15 but did not file the return of income for the relevant assessment year i.e. AY 2015-16," CBDT said in a statement.
Non-filers have been identified based on data analytics carried out by the Systems Directorate of Central Board of Direct Taxes (CBDT) about whom specific information is available in the Annual Information Return (AIR), Central Information Branch (CIB) and TDS/TCS databases.
"While the government urges all tax payers to disclose their true income and pay taxes accordingly, the Department would continue to pursue the non-filers vigorously till all the high potential non-filers are covered," the statement said.
CBDT has made available in the 'Compliance Module' on the e-filing portal of the Income Tax Department the information relating to the identified non-filers.
The information will be visible only to the specific PAN holder when they log into the e-filing portal- incometaxindiaefiling.gov.in.
"The PAN holder will be able to respond electronically and retain a copy of the submitted response for record purpose," the Central Board of Direct Taxes added.
Goodreturns.in
