The Income Tax Department issued notice to nearly two lakh people who had deposited a sum of Rs 15 lakh or more during the note-taking which did not fill the income tax return. The Central Board of Direct Taxes (CBDT) Chairman S. Chandra gave this information on Saturday.
Chandra says that during the ban, some people deposited Rs 15 lakh or more but they have not filled the income tax return. Such 1.98 lakh people have been identified and these people were issued notices in December 2017 and January 2018 but no response has been received so far. He said that punishable action will be taken against people who will not give notice to them under income tax law. He said more than three thousand cases have been registered in the last three months regarding tax evasion, delay in filing of returns, etc. While announcing the ban on Prime Minister Narendra Modi on November 8, 2016, the circulation of 500 rupees and old notes of one thousand rupees was stopped. After this the people were asked to deposit these notes on their nearby banks.
The introduction of e-Statement
CBDT President said that in view of the promotion of digitization, the Income Tax Department is focusing on e-Statement. He said that e-statement for testing this year has been started. About 60 thousand e-statements have been issued in three months and it is expected to increase in the coming month.
