Chartered Accountants and members of the Tax Bar Association have been asked to explain to Income Tax assesses the pitfalls of evading the payment of taxes in the light of the new software and search engines the Income Tax Departments had developed, Chief Commissioner of Income Tax-II, Hyderabad, A.K.Behera, has said.
In an interaction session organised jointly by the Andhra Chamber of Commerce and Industry, Vijayawada Chamber of Commerce and Industry, Taxation Bar Association-Vijayawada and Vijayawada branch of SIRC of Indian Chartered Accounts Institute, Mr Behara said while the income tax being paid in the four commissionerates of Hyderabad increased six fold in eight years, the Income tax in the Krishna-Khammam circle had only doubled. The Chief Commissioner said though the businesses in the circle could not be referred to as ‘robust’ there was definitely a lot of agricultural activity. There was “something wrong” he said hinting that there was evasion of IT. Mr Behera said the department had several instruments to keep a watch on the transactions of income tax assesses. “The tax return is not the only source, the powerful search engines can come up with the different transactions ,” he said.