BAD NEWS FOR NON FILERS !! BE READY TO FACE 10 LAC IT NOTICE

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“  BAD NEWS FOR NON FILERS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! “….
 
“ FINAL WARNING FROM IT. DEPARTMENT TO NON-FILERS AS BE READY TO FACE IT NOTICES  FROM YEAR 2013 ON-WARDS  “…
 
CBDT : “ INCOME TAX DEPT. LIKELY TO ISSUE NOTICES TO OVER 10 LAKHS NON-FILERS ”.
 
According to sources, the Income Tax Department has prepared a list of non-filers based on their information records.  The department is now relying more on technology-driven regime to trace non-filers, rather than depending on heavy-handed administration. 
 
“ The revenue department has already sent letters to 1.75 lakhs  'high priority cases' seeking whether the person has filed his income tax return or not “. 
The I-T department, sources said, has identified PAN holders who did not file returns based on the department's records covering over 4.7 crores  Permanent Account Number holders. 
 
The officials have also verified the record of annual information return (AIR), Central Information Branch (CIB) and TDS/TCS returns. Besides, they also verified data available with the Financial Intelligence Unit (FIU). 
 
Sources said , these letters are part of "non-intrusive" tax administration approach that the Ministry is undertaking to collect taxes in a "just and fair manner ". 
 
 
Thanks...
 
Replies (2)

1 of my client received letter from the dept.

The fact is that he has submitted torm 15H to the bank..

The same is informed to the dept.

On enquiry with the bank the bank has not submitted 15H it to the dept. nor it has included these amounts in their quarterly return.

? would be the consequences.

I don't know the detail back ground of your query ,, but , Any way,, as far as your query is concern,, I think, Bank can deduct TDS U/S 194I , IF AMOUNT OF INTEREST EXCEEDS  OF RS . 10000/=..


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