New Delhi: The taxman is stepping up the pressure on corporates. The Income Tax office has drawn up a list of more than 80 corporates, who reportedly paid a low tax?and guess what?in some cases the revised statements show a 100 time rise in income.
A bit of pressure from the Income Tax department and tax evaders are scurrying for cover. The Income Tax department conducted random surveys on owners of big jewellery showrooms, designer boutiques, saree shops, caterers and electronics shops.
In over 20 cases, the owners have suddenly jogged their memories and filed revised returns showing incomes running into crores! Some who had earlier shown income of only Rs 2 to 4 lakhs are now showing a revised income of between Rs 4 to 7 crores.
"The IT department has also decided to knock on the doors of over 80 cash-rich companies in Delhi. Officials say these companies have paid taxes which are not commensurate with their income. The taxman expects to recover an additional Rs 900 to 1000 crores of revenue," said UP Singh,Chief Commissioner of Income Tax, New Delhi.
So far only about 12,000 filings or less than 1 per cent of the returns filed in Delhi are scrutinised. But the department now wants to double the cases it picks for scrutiny.
Presently, almost 15 lakh taxpayers in Delhi have filed their returns.
And that?s not all. To identify new taxpayers, the IT department has also put tax detectives on the job. They are going around major markets in Delhi, looking for tax evaders.
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