• twitter-icon
Unlimited Tax Return Filing


Government Expands List To Catch Tax Defaulters

Tax Defaulters

Now there will be a tough time for the Income-tax defaulters as there are no chances for them to flee by changing there address. As in the latest term of law and regulation, the government has taken strict action towards the income tax defaulters. Now in the latest terms of rules, the government has given the liberty to the income tax department to access the database of banking, insurance and municipal corporations to find the income tax defaulters.

This move would help the income tax department in finding out the lost and underground tax defaulters and taking due taxes from them. Till now, the tax department was sending the default notice to their PAN card address which was not resolving the actual motive of the notice. The reason was that many of the tax defaulters had changed their address and did not bother to update there address while many of them intentionally do so to evade the taxes.

A senior tax official stated that the finance ministry recently gave nod on the pooling of database from various government sources in order to strengthen the departments reach to the tax defaulters. Through this, now the income tax department can fetch the database of a tax default from various sources including banking company, co-operative bank, India post, insurance company, agricultural income return, and financial statements.

Recommended: Major Changes in Income Tax Laws from FY 2017-18

The address of the assessee can also be taken from government records in which the government records means where the taxpayer is registered i.e. driving licence, voter ID etc. The decision has been taken by the Central Board of direct taxes (CBDT).

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

Published by Subodh Kumawat
Subodh has done with numerous professional degrees ranging from Human Rights to Banking along with MBA in HR Marketing. He is also interested in the field of tax-related articles and blog as per the industry based norms. Having expert knowledge in diverse sectors, he assures facts and figures along with testimony, in his articles. Working in SAG Infotech, he is a trusted author among the readers globally. View more posts
SAGINFOTECH PRODUCTS

Join the Conversation

1 thought on "Government Expands List To Catch Tax Defaulters"

  1. I think this is one of the important and best move; all these should be centralised in UIDAI and UIDAI should themselves link AADHAAR with all other accounts like bank accounts, mobile numbers, passport, LIC policies and all other documents/accounts etc. before it is too late like happened in the past going for litigation without reaching the desired ed results.

Your email address will not be published. Required fields are marked *

Follow Us on Google News

Google News

Latest Posts

New Offer for Professionals

Super Tax Offer

Upto 20% Off
Tax, ROC/MCA, XBRL, Payroll, Online GST

Limited Offer, Hurry

Big Offer for Tax Experts

Upto 20% Discount on Tax Software

    Select Product*

    Genius Software