Facing flak from civil society for not doing enough to deal with the menace of black money, the government today announced setting up of another panel to suggest ways to trace tax defaulters, reveal their identity to the public and recover taxes. The committee, set up by Central Board of Direct Taxes (CBDT) in the Finance Ministry, will also look into the possibility of putting the list of “chronic defaulters” in public domain.

The announcement comes on a day when social rights activist Anna Hazare is sitting on a day-long fast at Rajghat to protest against the police excesses on followers of yoga guru Ramdev last Saturday.

Hazare has spearheaded the agitation for enacting a Lokpal Bill to tackle corruption at high places. The Committee, headed by Anita Kapur, Director General of Income Tax (Admn), will suggest ways to recover tax demand from assessees who are not traceable.

It will also examine the possibility of engaging outside agencies to locate non-traceable assessees and their undisclosed assets.

Last month, the Government had set up a high level committee to suggest a legal framework for confiscating black money and declaring it a national asset.

Besides, a study has also been instituted to quantify unaccounted income and wealth stashed within and outside the country.

Source: PTI

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  1. MANISH MAKKAR says:

    Dear All,

    Govt sets up panel on black money to suggest ways to trace tax defaulters.

    In my point of view that black money can stop if govt work with a software for all industrialist and all companies include all shopkeeper if they are billing in govt online software and maintaining ledger and books of accounts in govt making software then it is very tuff to change any bill and make any fake bill. Govt has to be give that software authority to Excise deptt. if any company/shop/firm has excise no. and give authority to sales tax deptt. if any company/shop/firm has sales tax no. and books of accounts will be link with Income tax deptt..

    This software will link with all Income Tax PAN No. It will open for self and all Linked deptt. like if I have Excise No./ Sales Tax No./Service Tax No. then it is open for all mentioned deptt. If any bady apply for Income Tax Pan no. then Income tax deptt will provide them Pan no. with there site Login & passward to view all transaction those they are making. This Login and Password will be chargable and everybady can give that amount. you can charge that amount with at the time of application of 49A and those have Pan No. they can deposit that amount or you can deduct there amount in there bank statement and immplement this software.

    Govt have to go change there nature for Anna Hazare and Ramdev maharaj they are like all public those are required to change and make our country big & rich.

    I want also the answare of that money why indians people deposit in outside from india. Govt have to accept that money will come back and deposit in indians contudy.

    Manish Makkar

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June 2021