Income tax department identifies 67.54 lakh people with high-value transactions, but no returns

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.

By: ENS Economic Bureau | New Delhi | Updated: December 23, 2016 11:08 am
income tax, income tax raid, I-T raid, bengaluru, new notes, new notes seized, dogs, 2000 notes Income Tax Department Building. (Express photo by Vasant Prabhu)

The Income Tax Department through its Non-filers Monitoring System has identified an additional 67.54 lakh potential non-filers who carried out high-value transactions in 2014-15 but did not file income tax returns.

“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 return of income for the relevant assessment year i.e. AY 2015-16,” CBDT said in a statement.

 

The Non-filers  Monitoring  System  (NMS) is a pilot project for action on non-filers with potential tax liabilities. Data analysis is carried out to identify non-filers about  whom specific information is available in  various sources such as annual information  return, centralised information branch,  TDS/TCS statement among others. The  identified non-filers are informed by SMS, e-mails and letters in batches.

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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 incometaxindiaefiling.gov.in. “The PAN holder will be able to respond electronically and retain a copy of the submitted response for record purpose,” CBDT said. The CBDT said it would continue to pursue the non-filers vigorously till all the high potential non-filers are covered, even though the government has urged all taxpayers to disclose their true income and pay taxes accordingly.

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