Bedi urges business community not to understate income

Lt. Governor Kiran Bedi addressing the 11th edition of ‘CONFED-ITA Summit 2018’ hosted by the Confederation of I.T. Associations.   | Photo Credit: Handout_E_Mail

Lieutenant Governor Kiran Bedi has urged the trader community to avoid under reporting turnover figures.

Ms. Bedi, who was the chief guest at the 11th edition of ‘CONFED-ITA Summit 2018’ hosted by the Confederation of I.T. Associations, a consortium of IT dealers Associations in Tamil Nadu and Puducherry, said that the Commercial Taxes Department was conducting surprise inspections on a regular basis and many cases of suppressions/ underestimation of turnover were found and penalties imposed.

The business community should stop under reporting turnover to the government. The Commercial Taxes Department has been directed to publish the names of defaulters in the newspaper, Ms. Bedi said.

Target at ₹2,205 crore

Exhorting traders, as wealth generators for the country they should not understate their income, the Lt. Governor said: “If the sales have improved and if proper assessment is made, the tax collection will easily cross ₹2,205 crore, the target for 2018-19.”

She urged the traders to report their transactions properly, since every penny counts for the exchequer.

Better participation

If everybody follows the laws, rules and regulations, more money will accrue, which can be used to provide basic amenities and infrastructure facilities and enhance the quality of life, Ms. Bedi added. Ms. Bedi called for more participation of the trading community in social upliftment projects.

Besides, she suggested that the traders association fund could be set up or a desalination plant established under CSR or spread digital literacy.

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Printable version | May 14, 2021 7:58:08 PM | https://www.thehindu.com/news/cities/puducherry/bedi-urges-business-community-not-to-understate-income/article23733232.ece

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