Govt.’s efforts to curb tax evasion will continue this fiscal as well: Chidambaram

Govt.’s efforts to curb tax evasion will continue this fiscal as well: ChidambaramThe government will continue with efforts to curb tax evasion, bring more people into the tax net and recover tax arrears this fiscal as well, Union Finance minister P Chidambaram said.

Addressing the Rajya Sabha on Thursday, Mr. Chidambaram said that the tax department mined data, issued notices to tax evaders and brought 50 lakh more taxpayers into the tax net between January and March.

Speaking on the topic, he said, "Between January and March... I have added 50 lakh more taxpayers into the tax net. We would like to do the same thing in 2013-14 and we will add many more (into the tax net)."

The finance minister said that it was a shame that merely 42,800 people in this country admit that they have an annual income of more than one crore. He added that just South Delhi might have a larger number people with an income of more than one crore.

He stressed that attempts to bring lakhs more high-income people into the tax net and recover tax arrears would continue in FY2013-14.

Mr. Chidambaram noted that the tax department was working under a number of limitations, but the adoption of new technology and non-invasive ways of collecting taxes will surely produce better results in current fiscal.