Income Tax Department Identifies 67.54 lakh Potential Non-Filers for F.Y. 2014-15
The Non-filers Monitoring System (NMS) was rolled out for identification of non-filers with potential tax liabilities. Data analytics carried out by the Systems Directorate of Central Board of Direct Taxes (CBDT) identifies non-filers about whom specific information is available in the AIR, CIB and TDS/TCS databases.Online GST Certification Course by TaxGuru & MSME- Click here to Join
The Income Tax Department has conducted the fifth cycle of data matching which has identified an additional 67.54 lakh potential non-filers who have carried out high value transactions in the financial year 2014-15 but did not file return of income for the relevant assessment year i.e. A.Y 2015-16. The information relating to the identified non-filers has been made available in the ‘Compliance Module’ on the e-filing portal of the Income Tax Department. The information will be visible only to the specific PAN holder when they log into the e-filing portal at https://incometaxindiaefiling.gov.in. The PAN holder will be able to respond electronically and retain a copy of the submitted response for record purpose.
While the Government urges all tax payers to disclose their true income and pay taxes accordingly, the Department would continue to pursue the non-filers vigorously till all the high potential non-filers are covered.
Source- Press Information Burea, Government of India, Ministry of Finance, 22-December-2016 17:41 IST