Finance Ministry to send letters to 70,000 tax non-filers
The Union Finance Ministry is in the process of sending nearly 70,000 more letters to high-priority assessees who haven't filed their returns yet.
The letters will contain the summary the addressees' financial transactions and ask them why they didn't file the returns. Non-filers will also be asked to disclose their true income and pay taxes in the running financial year.
The first batch of 35,000 letters has already been dispatched on May 20 this year, while the second batch will be dispatched in the coming few weeks.
Earlier, the finance Ministry had sent to letters to as many as 105, 000 high-priority assesses. As per the ministry's claims, the exercise has generated more than Rs 600 crore in revenue from self assessment and advance taxes.
The ministry added, "This data analysis has identified target segment of 12, 19,832 non-filers linked to more than 4.7 crore information records. Rule based algorithms were used to identify high priority cases for follow-up and monitoring."
The ministry has also established a compliance management cell to track return filing by the targeted assessees and ensure the follow-up action in cases in which targeted assessees don't pay heed to the letters.
The government aims to collect more than Rs 6.68 lakh crore in the form of direct taxes in the current financial year, considerably up from Rs 5.65 lakh crore collected in the previous financial year.