• Home
  • National News
  • Good news for taxpayers! Less than 1% of income tax returns filed last year to be scrutinised
Good news for taxpayers! Less than 1% of income tax returns filed last year to be scrutinised
National  
Financialexpress

The income tax department today said it has picked up only high tax evasion cases for scrutiny, which account for around 0.35 per cent of the 6.86 crore returns filed for Assessment Year 2017-18.

 

The Income Tax Department today said it has picked up only high tax evasion cases for scrutiny, which account for around 0.35 per cent of the 6.86 crore tax returns filed for Assessment Year 2017-18. Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said that the department has faith in the income tax payers, but will not allow tax evaders to go scot-free.
 
“We have increased the tax base and have full faith on taxpayers. Last year, we got 6.86 crore returns and I have picked up only 0.35 per cent cases for scrutiny. This means that 99.65 per cent of the returns filed can be at peace,” Chandra said at an Assocham event here. He said out of this 0.35 per cent cases picked up for scrutiny, 0.15 per cent are for ‘limited scrutiny’ and 0.20 per cent are for ‘full scrutiny’.
 
“This shows that in only high tax evasion cases, we will go for scrutiny,” Chandra said. A scrutiny procedure in the income tax system pertains to a case where a taxpayer is required to provide a number of documents to the assessing officer (AO) after his or her case is picked up for a threadbare examination after study of their tax returns.
 
Scrutiny of I-T returns has been an issue of grievance for many assessees. Earlier about 1 per cent of the income tax returns filed was picked up for scrutiny. This has now been brought down to 0.35 per cent. Chandra said less number of cases being picked up for scrutiny means that the tax department has full faith on people. “We are also making our enforcement unit stronger so that if there is a case of tax evasion, that will be dealt with severely”.
 
The tax authorities have filed 4,700 cases for the prosecution last year on the basis of data with the department, he added. “You can send your money to any tax haven or any country but we have also got a system of automatic exchange of information with many countries. Nobody is going to escape, we have information. People (tax evaders) think that boundaries are too far off, but the economic boundaries of different countries are very close to each other,” Chandra said.
 

 

The department will further simplify tax filing norms to help India improve its ranking in the Ease of Doing Business Index, the chairman said. “Compliance will have to be better. Enforcement will have to stronger. Based on the data with us, we are taking enforcement action to instil some fear in the mind of tax evaders,” Chandra added.

In 2017-18 fiscal, the CBDT has collected Rs 10.03 lakh crore revenue on account of income tax and corporate tax, a growth of 18 per cent over last year.
 

 
 


 
 


 
More in National
Minor ‘rapes’ 8-yr-old in Ghaziabad, FIR lodged

The Muradnagar police on Friday apprehended an 11-year-old boy for allegedly raping an eight-year-old girl while they were returning from school &n...

Recently posted . 0 views

Netaji’s daughter appeals to govt: Bring his mortal remains back to In...

According to Subhas Chandra Bose’s daughter Anita Bose-Pfaff , Netaji died in an air crash in Taiwan on August 18, 1945 and his remains are preserved at Tok...

Recently posted . 0 views

Kashmiri Engineer Suspected to be ISIS Sympathiser Deported from UAE

Thirty-six-year-old Irfan Ahmad Zargar, a resident of Chattatabal area on the outskirts of Srinagar, was deported from the Gulf country on August 14 and subjected t...

Recently posted . 5 views

No Cash to be Loaded in ATMs After 9 pm from Next Year, Lower Cutoff i...

In a notification, the Home Ministry said the new Standard Operating Procedures (SoPs) would come into effect from February 8, 2019 in view of the spurt in incident...

Recently posted . 0 views

This IIT professor once taught Raghuram Rajan, now works with tribals ...

For the past 26 years, Sagar has been living in Kochamu — a place which has no electricity and roads  

Recently posted . 1 views

AAP MLAs, MPs and ministers donating one-month salary for Kerala: Delh...

This is the deadliest deluge in Kerala in close to a century, which has claimed 194 lives since August 8. Over 3.14 lakh people have been moved to relief camps....

Recently posted . 3 views

 
 
 

Prashnavali

Thought of the day

If you want to achieve greatness stop asking for permission
Anonymous