The Hindu : Andhra Pradesh / Hyderabad News : 15,000 persons in the State to receive IT notices

Online edition of India's National Newspaper
Friday, Jan 06, 2006

Andhra Pradesh

Andhra Pradesh - Hyderabad

15,000 persons in the State to receive IT notices

Special Correspondent

HYDERABAD: About 15,000 individuals in the State with an annual income of over Rs. 5 lakhs who have not filed income-tax returns or concealed income are expected to respond by January 31 to notices served by the Income-Tax (IT) Department.

Chief Commissioner of Income Tax D.V. Dharmiktold reporters here on Thursday that the letters were under preparation and would be despatched from Monday.

Penal action

The department would take note of the responses if they were received before the deadline. Otherwise, penal action, including levy of penalty and prosecution, would follow against them.

Mr. Dharmik said the information suggested that many of the targeted persons did not even have permanent account number (PAN).

High spending

The department tracked them down gathering person specific information based on high spending and investments. It collected six lakh pieces of information from various sources.

The Chief Commissioner also said the concealment of income by such a large number of people was the main cause of stunted growth in collection of personal taxes..

It was only 4 per cent this year. Much of the 42 per cent growth in IT collection in the State was from corporate tax. The overall collection stood at Rs. 4,294 crores till December 31 as against Rs. 3,018 crores for the corresponding period last year.

He maintained that the fringe benefit tax was well in place in the State with a collection of Rs. 36 crores so far.

The IT refunds would be made through the electronic clearance system (ECS) of bank from the next year.

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