HYDERABAD: Chief Commissioner of Income-Tax (CCIT), Hyderabad-1, D.V. Dharmik has cautioned taxpayers against concealing their income.

"The department has more details than they think we have. So, it will not be of any use by not showing their correct income — both invested and spent," he warned. At a press conference here on Friday, he appealed to taxpayers who had filed returns to revise and submit them afresh voluntarily before the department embarks upon penal action. Mr. Dharmik called upon people to pay the advance tax for the third quarter by December 15.

Data of assessees

The CCIT said that the department could refer to the data of the assessees available with it before taking action against them. "They are all subject to detection by the department. If they volunteer and show income, the department will not subject them to penal action."

He stated that the tax revenue target for 2005-06 was fixed at Rs.6,401 crores as against Rs.4,800 crores of the previous year and the department collected Rs.3,033 crores by November. However, reaching the target was not as important as collecting right taxes on the income of people.

There was tremendous scope for additional tax collection, he said, adding that people have to comply with tax laws in the right spirit and pay taxes. There were 18 lakh taxpayers in Andhra Pradesh — a majority of them belonging to the salaried class.

Attention on institutions

Of late, the department is focusing attention on educational institutions which claimed tax exemption under charity. Replying to a question, Mr. Dharmik said the department would look into the recent purchase at Rs.50,000 a square yard of land by individuals at the open auction conducted by the Andhra Pradesh Housing Board in Kukatpally area.

The department effected seizures valued at Rs.20 crores before November 30 this year following raids conducted on 20 varied groups. The emphasis now is on persons making high volume purchases like modular kitchens.

J.L. Giridhar, Director-General, Income-Tax (Investigation), was present.

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