IT department will send notice to 1.52 crore taxpayers, know why? and what to do?

Rate this post

The I-T department has identified 1.52 crore such individuals who have the income or have had tax deducted at source (TDS) but did not file their returns

An official said that in financial year 2022-23, there were about 8.9 crore taxpayers while the returns filed were 7.4 crore.




The Income Tax Department will kickstart a drive against the individuals and entities who are required to file their income tax returns (ITR) but have not done.

The I-T department has identified 1.52 crore such individuals who have the income or have had tax deducted at source (TDS) but did not file their returns, Economic Times reported.

As per the report, the Central Board of Direct Taxes (CBDT) has asked the field formations to contact such defaulters from April 15.

An official told the website that in financial year 2022-23, there were about 8.9 crore taxpayers while the returns filed were 7.4 crore. The number of returns includes the revised returns, the official added.

As a result, there were possibly 1.97 crore individuals who did not file ITR despite have incurred tax deducted at source. Out of those who did not file their returns, 1.93 crore were in the individual category, 28,000 in the Hindu undivided family and 1.21 lakh were firms while the remaining were in different other categories

Identification of Non-Filers:

ParameterNumber of Non-Filers
Individuals1.93 crore
Hindu Undivided Families (HUFs)28,000
Firms1.21 lakh
Other CategoriesRemaining

According to the official, there were instances were the bank transactions linked to the PAN were very high, thereby necessitating the filing of ITR, the report added.

Key Actions Taken:

ActionDescription
Communication with Non-FilersAffected taxpayers have been contacted via email to rectify their returns.
Field OutreachField officials have been tasked with reaching out to non-filers to explain the importance of filing ITRs.
Sending Tax Notices to Potential DefaultersApproximately 8,000-9,000 potential taxpayers with high-value transactions have been sent tax notices.

The field officials have been asked to contact such individuals with proper data and information, and explain to them why they need to file their ITRs.

The CBDT has data that about 8,000-9,000 potential taxpayers against whom the department has record of high ticket purchase or high cash deposits are being sent tax notices.

In case they are found to be wilful defaulters, such individuals will have to pay penalty. But the taxpayers who have bona fide reason for the sudden income may have to give an explanation or may have to file a return.

The income tax department is also banking on the large amount of data received by it which has helped in identifying such non-filers and detect any mismatch.

Last month, the CBDT said that net direct tax collection grew 19.88 per cent to over ₹18.90 lakh crore till March 17 on higher advance tax mop-up.

It added that net direct tax collection of ₹18,90,259 crore (as of March 17) includes Corporation Tax (CIT) at ₹9,14,469 crore (net of refund) and Personal Income Tax (PIT), including Securities Transaction Tax (STT) at ₹9,72,224 crore (net of refund).

Impact on Tax Collection:

  • The proactive measures by the Income Tax Department have contributed to a significant growth in net direct tax collection.
ComponentAmount (₹ crore)
Corporation Tax₹9,14,469
Personal Income Tax (including STT)₹9,72,224

Source




Visit www.cagurujiclasses.com for practical courses

Pooja Gupta

CA Pooja Gupta (CA, ISA, M.com) having 15 years of experience. Educator and Digital Creator

Disclaimer:- The opinions presented are exclusively those of the author and CA Guruji Classes. The material in this piece is intended purely for informational purposes and for individual, non-commercial consumption. It does not constitute expert guidance or an endorsement by any organization. The author, the organization, and its associates are not liable for any form of loss or harm resulting from the information in this article, nor for any decisions made based on it. Furthermore, no segment of this article or newsletter should be employed for any intention unless granted in written form, and we maintain the legal right to address any unauthorized utilization of our article or newsletter.

CA Pooja Gupta (CA, ISA, M.com) having 15 years of experience. Educator and Digital Creator

3 thoughts on “IT department will send notice to 1.52 crore taxpayers, know why? and what to do?”

  1. There are lakhs of honest individual tax payers who do not want any tax notice from IT department. Chances are there may be some non payment or Short payment of tax either by oversight or inadvertently. In these days of advanced technology why cannot the IT dept take up sending IT payment letters annually to such tax payers on its own volition to unburden payers and to avoid non /short payment of taxes.

    Reply

Leave a Comment