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News INCOME TAX

  • Jul 24, 2020
  • I-T evaders beware! Taxmen are on prowl

    The Income Tax (I-T) department is ready to crack the whip on evaders, following the gradual lifting of the lockdown.

    It will act on information received from whistle-blowers and informers for the first half of 2020 (H1CY20).

    The move will help the department shore up revenue, clear backlogs, and resume probe in pending matters.

    People in the know said the Central Board of Direct Taxes (CBDT), in a recent communication, directed officials to start scrutinising information from tax evasion petitions (TEPs), and take them up on a priority basis.

    “Investigations in various tax evasion matters were kept on hold because of the outbreak.

    "However, the department has resumed work on pending matters, which could lead to further inquiry in potential cases,” said a tax official.