PC: Will bring more evaders in tax nethttps://indianexpress.com/article/news-archive/web/pc-will-bring-more-evaders-in-tax-net/

PC: Will bring more evaders in tax net

Fifty lakh added in first 3 months of 2013

Fifty lakh people have been added into the tax net in the first three months of this year,the government informed the Rajya Sabha on Thursday as it vowed to continue going after tax evaders.

Finance Minister P Chidambaram said the efforts of the government in recovering tax from evaders was limited only by constraints of time and human resource.

“Fifty lakh people have filed tax returns in a three-month period. We are going to do the same thing in 2013-14 and I hope to add many more lakhs to the tax net. But it cannot be done in one day. There are limits what a department can do. There are human resource limitations,there are time limitations,there are technology limitations,” Chidambaram said while replying to the discussion on budget proposals in Rajya Sabha.

The Upper House passed and returned the Finance Bill to Lok Sabha,completing the budget exercise for this year.

He informed the House that the government had collected Rs 18,757 crore in direct taxes in the first 10 months of the fiscal year 2012-13,as compared to Rs 19,654 crore in the full previous year,and Rs 12,011 crore in 2010-11. Similarly,the first 10 months of 2012-13 had yielded Rs 7,584 crore in indirect taxes,while only Rs 6,065 crore had been collected in the entire 2011-12.

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Chidambaram explained why the amount under ‘tax foregone’ head in the budget was not any favour dispensed to any individual or a group. “Revenue foregone is tax exemptions voted by this House… It is not the money that someone has stolen from the Treasury. It is a conscious decision (of this House) to give up the revenue. Parliament can always vote back and say,‘Sorry,we will not forego the revenue. We will impose a tax of 10 per cent,’” he said.