I-T dept sends letters to 35,000 assessees for not filing returns

The government plans to collect over Rs6.68 lakh crore from direct taxes in the current fiscal, up from Rs5.65 lakh crore in the previous fiscal

Continuing its drive against non-filers, the Income Tax (I-T) Department Monday sent letters to another 35,000 such assesses for not filing tax returns, taking the total number of these letters to 1.75 lakh.


The I-T Department has identified around 12 lakh assessees who have not filed their returns.


“As part of its ongoing initiative, the I-T Department has sent letters to another batch of 35,000 non-filers,” the finance ministry said in a statement.


With this, the Department has now issued letters to 1.75 lakh high priority assessees.


“The response to this initiative has been very encouraging and a large number of taxpayers have paid taxes and filed I-T returns,” the statement said.


A compliance management cell has been set-up to monitor return filing and tax payment of the target segment, it added.


The letter contained the summary of the information of financial transaction(s) along with a customised response sheet.


The government plans to collect over Rs6.68 lakh crore from direct taxes in the current fiscal, up from Rs5.65 lakh crore in the previous fiscal.


Meanwhile, top I-T officials will meet in New Delhi for two days beginning tomorrow to discuss ways to augment revenue collection and widen tax base.


Preliminary assessment of results of the letters sent show that a large number of taxpayers have filed return of income and paid self assessment tax.


The finance ministry further asked tax payers to disclose their true income and pay appropriate taxes within the current financial year.




4 years ago

What is the percentage of letters sent to the total defaulters? What is the demand raised on both the first (highest prioritiesed) sent notice and the latest sent notice?

nagesh kini

4 years ago

The IT dept.has to clarify the responses to their letters of demands. Most of them are sent to assesses who have turned senior citizens and not liable to tax, some who have filed returns only to claim TDS wrongly deducted, The CPC Bengaluru has been left right and centre dishing out computerised letters without ascertaining from the respective assessing officers the status of the assessment.
In the bargain the assessee gets no response from both and left high and dry.
The FM by crying on the roof tops of the thousands of letters issued and crores of demands raised needs to come out with the numbers of positive responses and amounts collected.

Life Insurance: EPFO Creates Term Insurance Option
The Employees’ Provident Fund Organisation (EPFO) has engaged Edelweiss Tokio Life Insurance to provide the group term insurance plan in lieu of Employees’ Deposit Linked Insurance (EDLI) Scheme 1976 which may lead to a higher group insurance of Rs1.32 lakh for each employee. Under the existing scheme, an EPFO subscriber gets insurance cover of up to Rs1 lakh before superannuation. 
Employers contribute 0.5% of basic pay of an employee as insurance premium to the EDLI scheme every month. The benefit under the scheme is given on the basis of the provident fund balance in the subscriber’s account. The subscriber gets the benefit equivalent to the PF account balance if the balance is up to Rs50,000. If the balance exceeds Rs50,000, the benefit is to the tune of the account balance plus 40% of balance, subject to maximum of Rs1 lakh. 
Meanwhile, the finance ministry has approved 8.5% interest for PF for 2012-13, up from 8.25% in the previous year, for over 50 million EPFO subscribers. EPFO is supposed to announce the rate of interest on PF deposits before the beginning of a financial year. However, for the past few years, there has been delay in announcement of rates. This time, the rate of interest has been notified after the end of the financial year. In the absence of the notification, the claims are settled at the interest rate 


Banking Services: Cheque Return Fee Only If Customer at Fault
The Reserve Bank of India (RBI) has asked banks to levy cheque return charges only if the customer is at fault. RBI said that cheques requiring re-presentation, without any recourse to the payee, should be presented at the immediate next clearing not later than 24 hours and customers notified through SMS alert, email, etc.
RBI has found that the issue was resulting in ‘unsatisfactory customer service’. It was considered necessary to streamline the procedure across all banks. RBI has advised banks to reframe their cheque collection policies (CCPs) for better customer service. Banks are expected to indicate the timelines for realisation of local/ outstation cheques in their CCPs and the charges for cheque returns are expected to be levied upfront with prior notice to the customers.


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