Tuesday, March 9, 2021
Home News Reports Modi Govt cracks down on IT defaulters - Can't escape scrutiny with change of...

Modi Govt cracks down on IT defaulters – Can’t escape scrutiny with change of address

As per reports carried by the Economic Times, scrutiny measures are coming into force which will significantly heighten the chance of nabbing Income Tax defaulters.

As reported, the IT department has caught on to those supposedly clever individuals who tried to avoid Income Tax notices by fudging or shifting addresses. The IT rules have now been amended, which mean that the department would deliver IT notices at addresses which the assessees have given to banks, post offices, insurance companies etc if the notice isn’t delivered to the regular address. The notices will continue to be delivered via emails.

Earlier the notices were only delivered to addresses available in the PAN and current, previous year’s income tax returns.

These rules were amended by the Modi government in a notification dated 20th December 2017 and the measures [PDF] have come into force via an insertion of these provisions in sub-rule (2) of rule 127 in the Income-tax Rules, 1962.

Apart from this, another measure which is designed to thwart money laundering via Swiss Banks will come to force form 1st January, 2018. From this day the Swiss government will start sharing information on accounts of Indians in Swiss banks.

Apart from it, an Automatic Exchange of Information (AEOI) between the two countries based on global standards would start from September, 2019. This exchange requires a strict adherence to confidentiality and data protection.

These aren’t the only measures which might be used by the government and corresponding agencies to ensure scrutiny.

We had reported how the government may use GST data to track Income Tax defaulters. We had almost predicted such a step about a year ago in an article titled, “If demonetisation was bad for black money, GST will be much worse”. 

We had also reported how the IT Department had issued detailed guidelines to tax officers, which are to be considered while ordering scrutiny assessments pertaining to filing of revised/belated returns by assessees, post-demonetisation period.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Uttarakhand: After a day of ‘will he or won’t he’ speculations, CM Trivendra Rawat set to resign today

Reports suggest that a faction of the party is unhappy with the functioning of the Uttarakhand government led by Trivendra Singh Rawat.

‘As Hindu students, we cannot study and live in an environment in which we feel unsafe’: Hindu Group speaks up after Rutgers backs Audrey...

Hindu on Campus have expressed their disapproval over Rutgers Newark's defence of Hinduphobic 'historian' Audrey Truschke.

Freedom House and Pakistan: How global liberalism dehumanises Hindus

In reading the reports from Freedom House, what stood out is how similar it is to the now familiar secular whitewashing style of mainstream media here in India.

Ex-CEO of Rajya Sabha TV draws a ludicrous comparison between free vaccinations in the past with COVID-19 immunisation: Here’s why he is wrong

Gurdeep Singh Sappal, the former CEO of Rajya Sabha TV and a Congress loyalist, ranted against nominal price of COVID-19 vaccines charged at private vaccination centres

ED raids properties of former AAP leader and Punjab MLA Sukhpal Singh Khaira: Details

As per reports, the PMLA case is linked to narcotics trafficking and fake passports. The ED officials are looking at bank transactions and property papers of khaira too

India can manufacture 70-100 million monthly Covishield doses and 150 million Covaxin doses per year: DBT

The India-made coronavirus vaccines have been sent to over 60 countries across the world including several developed countries.

Recently Popular

‘Women belong in the Kitchen,’ declares Burger King on Women’s Day, hits back at KFC for criticising campaign for gender equality

Burger King generated quite the controversy on International Women's Day after declaring that "Women belong in the kitchen."

What is Blue Anon? A term for conspiracy theorists that was recently removed by Urban Dictionary from its platform

Blue Anon is term used to describe left wingers that peddle Trump-centric delusional conspiracy theories.

Woman heard crying in Sonia Gandhi’s house after Delhi Court convicts Ariz Khan in Batla House encounter case

A Delhi Court has ruled that Ariz Khan is guilty in the Batla House Encounter case, years after Sonia Gandhi had cried.

‘Aren’t fake 33 cr Gods enough’: Abusive tweets of AAP MLA go viral, while Netizens demand ouster, MLA peddles ‘hacked theory

The AAP MLA Virender Singh Kadian then made his account private and later deleted it, in the hopes of not exposing himself further.

Congress leader gifts a bag full of scraps of paper, torn pictures to Miss India Manya Singh for Women’s Day

In a felicitation ceremony, Mumbai Mahila Congress President Ajanta Yadav gifted torn pics of Manya Singh to her.

Alia Bhatt starrer Gangubai Kathiawadi in trouble, Congress MLA demands name change

The film Gangubai Kathiawadi is adapted from one of the chapters of the book Mafia Queens of Mumbai by S. Hussain Zaidi. It is slated for countrywide release on 30th July 2021.
- Advertisement -

 

Connect with us

253,306FansLike
522,800FollowersFollow
23,900SubscribersSubscribe