Coimbatore: The Chief Commissioner of Income Tax, Coimbatore, O.P. Sachan said that the department was working towards the objective of widening the tax base by increasing the number of assesses and also ensuring filing of returns before March 31.
He was talking to reporters on Thursday on the annual performance of the Department in Coimbatore, Erode and the Nilgiris along with the Commissioners of Income Tax, J.C. Mishra and Arun P. Pawar.
He said that there were 3,26,419 assesses, of whom only 2,33,670 persons had filed their returns. The Department had taken note of the fact that several persons were not filing their returns despite having taxable income.
Non-filers of income tax return (before the end of the financial year), as per the provisions of section 271 F could be levied a penalty of Rs 5,000 besides a punishment of seven years imprisonment under section 276 C.
Though the due date for filing return was July 31, 2006 for financial year 2005-06 (assessment year 2006-07) for individual assesses, no penalty could be levied if the returns were filed before March 31, 2007.
On Tax Deduction at Source (TDS), with a view to unearthing cases of non-compliance, in the last six months of the financial year, the TDS range at Coimbatore had carried out inspections in about 350 cases covering a wide spectrum of establishments.
Cases of non-deduction, short deduction, non-remittance of the deducted amounts were detected. As a result of the inspections, about Rs. 5 crores were collected additionally. In respect of private businesses, cases of non-deduction of tax were also detected.
The department had fixed a target for tax collection for the current fiscal at Rs 1,437 crores and Rs 1,152 crores had been achieved till March 15.
During the current year, 53 surveys had been conducted in the region, which resulted in unearthing of undisclosed income of Rs 48.87 crores. Tax effect on these surveys was about Rs 17 crores.
Of this amount, a total of Rs 7.89 crores had been collected so far.