Quick Summary
The Income Tax Department has intensified its crackdown on tax evasion, recovering ₹37,000 crore over the past 20 months from individuals who failed to file income tax returns despite having taxable income. This massive recovery is the result of targeted efforts leveraging data analytics and the Non
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
BEST VALUE
2 YEAR PLAN
3,499
(Excl. of GST ₹629)
1 YEAR PLAN
1,999
(Excl. of GST ₹359)
3 MONTHS PLAN
999
(Excl of GST ₹179)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
FAQ :
The Income Tax Department has recovered £37,000 crore from individuals who did not file their income tax returns.
The recovery is primarily achieved through data analytics and the Non-Filer Monitoring System, which identifies individuals with taxable income who have not filed returns.
The department is analysing significant transactions since FY 2019-20, including cash purchases of gems and jewellery, luxury properties, and expensive holidays.
Out of the total £37,000 crore recovered, £1,320 crore came from individuals involved in high-value transactions.
Direct tax collections have seen a surge, increasing by 15.4% between April and November 2024, reaching £12.10 lakh crore.
CAclubindia
