I-T dept sends 100,000 notices over under-reported income

Finance Minister Nirmala Sitharaman Monday said that the income tax department has sent one lakh notices in cases where assesses have either not declared income or have underreported income.

In most of these cases, taxpayers have hidden their income or under-declared their income. These returns are four to six years old and the Income Tax Department will dispose of all these cases by March 31, 2024. It is now easy for taxpayers to avoid any kind of fraud.

This is because revenue department is adopting technology to check ITR. Also, 360-degree profiling is being done to verify the claims of taxpayers. Data mining and analytics are also being used.

Speaking on the occasion of Income Tax Day, Nirmala Sitharaman informed that notices have been sent to lakhs of taxpayers. These people have shown low income or not disclosed it in ITR. Those notices were not sent without reason.

The Income Tax Department will handle all cases in a transparent manner and responsibly. He said that with the help of technology, the work of taxpayers has become easy and they are paying taxes promptly. People are getting information about all their sources of income. This will reduce tax disputes.

Notices have been sent to around one lakh taxpayers in the last 14 months. An Income Tax Department official said that most of these people have an annual income of more than Rs 50 lakh. Under the Income Tax Act, authorities may reopen cases older than six years

CBDT has completed scrutiny assessment of 55 thousand notices in May 2023. These notices have been sent after the Supreme Court's decision. Now people cannot cheat the system. Our stand on this is clear, said Sitharaman.