New Delhi: Income tax (I-T) department through data mining has identified 67.54 lakh potential non-filers of income tax who carried out high value transactions in the financial year 2014-15. These people carried out high value transactions but did not subsequently file income tax return. I-T department gets information through various sources like TDS, tax collected at source, annual information returns (AIR) and Central Information Branch (CIB).
Income tax department has rolled out Non-filers Monitoring System (NMS) for identification of non-filers with potential tax liabilities. Data analytics carried out by the Systems Directorate of Central Board of Direct Taxes (CBDT) identifies non-filers about whom specific information is available in the AIR, CIB and TDS/TCS databases. The information relating to the identified non-filers has been made available in the ‘Compliance Module’ on the e-filing portal of the Income Tax Department.
“The information will be visible only to the specific PAN holder when they log into the e-filing portal at https://incometaxindiaefiling.gov.in. The PAN holder will be able to respond electronically and retain a copy of the submitted response for record purpose," said income tax department. While the government urges all tax payers to disclose their true income and pay taxes accordingly, the department would continue to pursue the non-filers vigorously till all the high potential non-filers are covered, it added.
Post demonetisation, income tax department has started compiling data about cash deposits of old currency of Rs 500 and Rs 1,000 through out the country to look for suspicious transactions. “We are getting information on daily basis about every kind of deposit from small deposits to large ones and passing out to enforcement agencies. Be these deposits in dormant accounts, Jan dhan accounts, urban co-operative accounts, or cash payments in loan accounts or any other way. Some people were depositing less than Rs 2 lakh in multiple accounts. We have all the information. They are under our radar," Hasmukh Adhia had said last week.
