FinMin now plans to write polite letters to tax defaulters

By Religare
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    FinMin now plans to write polite letters to tax defaulters
    In a first, the finance ministry is planning to write polite letters to all the tax defaulters, seeking their information on pending tax liability and also clarity on the red-flagged transactions through which taxes were avoided.
     

    Media reports said that letters would be sent to entity or an individual who has carried out a financial transaction, red-flagged by economic intelligence agencies as black money or seen as an attempt to dodge paying of taxes.

    Report said that the Directorate General of Central Excise Intelligence (DGCEI) and Directorate General of Revenue Intelligence (DGRI) will be the nodal authorities for the same. Both these bodies will coordinate with Financial Intelligence Unit, an agency tasked with analysing and disseminating information relating to dubious deals.

    Finance ministry official reportedly said that the aim of this exercise is to remove the bureaucratic hassles and politely seek information from the suspected defaulters instead of in-person interrogation which creates panic.

    Read more about: tax tax defaulters
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