City
Epaper

I-T dept sends 100,000 notices over under-reported income

By Lokmat English Desk | Published: July 25, 2023 12:40 PM

Open in App
1 / 7
Finance Minister Nirmala Sitharaman Monday said that the income tax department has sent one lakh notices in cases where assesses have either not declared income or have underreported income.
2 / 7
In most of these cases, taxpayers have hidden their income or under-declared their income. These returns are four to six years old and the Income Tax Department will dispose of all these cases by March 31, 2024. It is now easy for taxpayers to avoid any kind of fraud.
3 / 7
This is because revenue department is adopting technology to check ITR. Also, 360-degree profiling is being done to verify the claims of taxpayers. Data mining and analytics are also being used.
4 / 7
Speaking on the occasion of Income Tax Day, Nirmala Sitharaman informed that notices have been sent to lakhs of taxpayers. These people have shown low income or not disclosed it in ITR. Those notices were not sent without reason.
5 / 7
The Income Tax Department will handle all cases in a transparent manner and responsibly. He said that with the help of technology, the work of taxpayers has become easy and they are paying taxes promptly. People are getting information about all their sources of income. This will reduce tax disputes.
6 / 7
Notices have been sent to around one lakh taxpayers in the last 14 months. An Income Tax Department official said that most of these people have an annual income of more than Rs 50 lakh. Under the Income Tax Act, authorities may reopen cases older than six years
7 / 7
CBDT has completed scrutiny assessment of 55 thousand notices in May 2023. These notices have been sent after the Supreme Court's decision. Now people cannot cheat the system. Our stand on this is clear, said Sitharaman.
Tags: Income taxNirmala Sitharaman
Open in App

Related Stories

MaharashtraShinde Sena's South Mumbai Candidate Yamini Jadhav, Husband Receive Rs 143 Crore Demand From Income Tax Dept

BusinessIncome Tax Department Extends Deadline for Filing Form 10A/10AB by Taxpayers to June 30

NationalSam Pitroda Advocates for Inheritance Tax in India, Says 'Redistribution of Wealth Should Benefit All, Not Just the Super-Rich' (Watch Videos)

NationalKarnataka Deputy CM DK Shivakumar Criticizes Centre, Thanks Nirmala Sitharaman for Admitting Delay in Drought Relief Funds

BusinessMonetary Tightening Measures By RBI Stabilised G-sec Yields, Contributed To Investor Confidence In Indian Economy: Nirmala Sitharaman

National Realted Stories

EntertainmentSurjit Patar Dies: Punjabi Poet and Writer Passes Away at 79

NationalDust Storm in Delhi: Two Dead, Six Injured from Tree Uprooting, 17 Injured From Building Damage (Watch Videos)

NationalCongress Will Need To Change Its Politics, Party Too Made Mistakes, Says Rahul Gandhi

NationalArvind Kejriwal To Visit Hanuman Temple in Delhi Today, Address Media; Hold Roadshow

NationalWeather Forecast for May 11: IMD Predicts Rainfall, Thunderstorms Across India After Dust Storm Wreaks Havoc in Delhi