Undisclosed income to the tune of Rs.42 crore was detected in various surveys and raids conducted by the Income Tax department in Puducherry region, according to K.K. Misra, Chief Commissioner of Income Tax-4, Chennai.
Speaking to reporters after inaugurating an Aayakar Seva Kendra (ASK) at the Income Tax office here on Monday, Mr. Misra said that around 34 surveys were conducted by the Department in the last fiscal .
Out of this, the tax income could be around Rs.12 crore. The Department had already collected more than Rs.7 crore tax from the assessees and hopes to collect the remaining amount in the next two days.
Mr. Misra said that the Income Tax collection target for Chennai circle had been set at Rs.2,720 crore. This included Puducherry’s target of Rs.363 crore. The Department is about to reach the target in the next two days.
He said that the Department was slowly moving towards a non-adversarial tax regime. However, the Department will continue to keep a watch based on its solid intelligence network and based on information from banks and various other sources.
During the course of surveys and raids the Department had found that black money stashed in India may probably be more than what is stashed abroad.
Mr. Misra said that the Aayakar Seva Kendra would ensure hassle-free tax payments and time-bound response to grievances of taxpayers. ASK outlets are meant to be a single window solution for all tax services.
All applications including income tax returns would be processed here and system-generated acknowledgement numbers issued for easy monitoring of applications. Sailendra Mamidi, Principal