Income Tax conducted Survey,tax evasion detected
Following on the heels of the recent appeal by the Chief Commissioner of Income Tax, Ludhiana to all tax payers and others who have not disclosed their taxable income or filed returns to join the ranks of honest tax payers and contribute to nation building, the Income Tax Department is continuing with its drive against tax evaders.
Eleven surveys have been carried out by the Department in the last two days alone targeting tax evasion in Ludhiana, Jalandhar, Barnala and Moga. The assesses covered during survey have admitted to tax evasion ranging from Rs. 25 Lacs to several crores.
Steel manufacturing cycle parts, chemicals, pharmaceuticals, diagnostics laboratory, plywood, sanitary ware and stone dealers, and traders were some of the sectors covered in the surveys.
The Department found large quantities of unexplained cash, fake bills, instances of transportation of large quantities of bulk material being shown on vehicles whose registration numbers were found to be those of scooters and motor cycles, incriminating documents, discrepancies in stocks and books of accounts and other manifestations of tax evasion.
Survey action is also being carried out, today, in the case of a medical practitioner in Malerkotla. At the same time, action u/s 230(1A) of the I.T. Act resulting in Look Out Notices for preventing tax defaulters from leaving the country without making suitable arrangements for tax payment and prosecution as well as proceedings for arrest of tax defaulters are ongoing.
The Department is continuously analyzing the data of large unexplained cash deposits and persons with taxable income who have not paid their tax and filed their returns so that necessary steps can be taken against such defaulters. Under the existing provisions those who do not file their due income tax returns can also be prosecuted u/s 276 CC of the I.T. Act.
The Department has once again appealed to all those who have taxable income to deposit their due tax and file their returns of income for last year before the final window for filing such returns closes on 31.3.2018. Returns of income can easily be filed online.
The Department plans to set up special facilitation centers at its offices to help new assessees to file their returns during next week and to assist those assessees who are not able to upload their returns online to file them manually. CCIT Ludhiana has appealed to everyone who has taxable income to discharge their legal responsibility and contribute to nation building.