Indore : If you have purchased a very expensive and branded luxury car or a house worth more than Rs 30 lakh and avoiding the Income Tax, then you are certainly under the Income Tax department lens. Even the filers of 15-G and 15-H, who are senior citizens, are also on the radar of I-T officials in suspicion that they must have some other sources of income. After all, the Indore Region of chief commissioner of Income Tax has to bring over 10 lakh people under the I-T net. Thousands of ITRs are thus brought under the scrutiny.
The Income Tax department has decided to add one crore new tax payers from all over the country in the current fiscal. Subsequently, the Indore Region of chief commissioner of Income Tax has received the target of adding over 10 lakh new Income Tax payers. Though, the Indore Region consists of 13 districts of Malwa and Nimar, but owing to the biggest financial hub of the region, the Indore district is on prime focus. Even the staff of the department is deputed on the massive job, who are looking for all the avenues to tap the new tax payers and achieve the target in remaining broadly 4 months of the current financial year.
The aim behind the move is to fish out people who are still hiding their actual income or showing low income despite the fact that the government has simplified the process of filing the ITR.
ITRs taken for scrutiny
The move to sending notices to the thousands of the tax payers whose ITRs are taken for scrutiny under section 143 (2) of Income Tax Act 1962, has been started. The ITRs taken for scrutiny are of the assessment year 2014-15. The department has selected such tax payers and they are much higher than the previous assessment year in numbers.
The filer of 15-G and 15-H, who gets exemption in filing the ITR showing that they are senior citizens and have income less than Rs 10,000 as an interest from their deposits in the banks.
I-T action: The officials of the I-T are trying to figure out through the PAN whether they are true or not.
Luxury car buyers are also on the radar of the I-T sleuths.
I-T action: In order to find out the name of the car owners, the officials of the I-T department have served notices to the local dealers of the multi-national car brands to avail the name and PAN of the buyers of the cars. Officials are also asking the buyers whether they mention about the buying of car in the ITR or not.
The buyers of the property worth more than Rs 30 lakh and avoiding the filing of the ITR are also on the radar.
I-T action: Officials are collecting information from the office of registrar of properties.
People coming from other places to the city and are not filing the ITR.
I-T action: Through the departmental information, the department is trying to locate them.
People who have stopped the filing of ITR are also on the radar of the I-T department. They are the people who used to file ITR regularly 2-3 years ago, but now have stopped filing ITR.
I-T action: Though these may be the people who are retired, but despite that the department is screening them.
People having the PAN and doing high value transactions in share and commodity trading and also through credit cards, and not filing ITR.
I-T action: The department is also collecting information about such people at its own level.