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The Ministry of Finance has confirmed its continued efforts to combat tax evasion, with surveys being conducted under Section 133A of the Income-tax Act, 1961. Pankaj Chaudhary, Minister of State in the Ministry of Finance, revealed that the government has actively pursued individuals avoiding taxes
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FAQ :
The Ministry of Finance is using surveys under Section 133A of the Income-tax Act, 1961, and conducting targeted investigations into areas like foreign remittances and GST evasion.
In FY 2021-22, 1,046 surveys were conducted; in FY 2022-23, 1,245 surveys were conducted; and in FY 2023-24, 737 surveys were conducted.
Initiatives include digitalizing return filing, payment processing, refund issuance, faceless assessments, and streamlining GST and customs services.
An investigation has been launched into foreign remittances exceeding Rs 6 lakh to detect potential tax evasion, focusing on individuals splitting large sums to avoid Tax Collected at Source (TCS).
The Directorate General of GST Intelligence (DGGI) has uncovered a network involving fake input tax credit (ITC) schemes amounting to Rs 1.2 trillion and identified approximately 59,000 fake firms.
Net direct tax collections have shown consistent growth, with figures for 2023-24 reaching Rs 10,19,017.99 crore and for 2024-25 reaching Rs 11,43,863.44 crore.
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