Begin typing your search above and press return to search.

IT crackdown on tax evaders likely

By Staff reporter

GUWAHATI, Oct 30 � Armed with what it termed as �solid information�, the Income Tax department is soon going to crack the whip on at least six business organisations, including those dealing in real estate, on charges of large-scale tax evasion.

IT department sources claimed to have figured out annual tax evasion worth several crores of rupees by these business units, most of them operating from Guwahati.

�As far as our estimate goes, these establishments would have to surrender crores of rupees as tax dues, which they have been evading for years,� a senior IT official pointed out.

The official stated that with income tax generation, tax evasion in the State, too, has taken a leap.

The official, however, refused to disclose the identity of the firms under the department�s scanner.

�We have intensified our vigil and searches and raids have been conducted as and when it is required,� the official stated.

Giving an insight into the recent raids conducted by the department, the official said that the tax evaders, over the last few years, have gone on to repay a huge amount of money.

On the latest raids conducted in jewellery outlets in the city, the sources stated that the documents seized during the raids are being scrutinised after which the amount of tax evaded could be figured out.

The IT department, it may be mentioned, had conducted a number of searches in the State in the last one year, especially in the capital city and detected large-scale fraudulent cases.

Next Story
Similar Posts
IT crackdown on tax evaders likely

GUWAHATI, Oct 30 � Armed with what it termed as �solid information�, the Income Tax department is soon going to crack the whip on at least six business organisations, including those dealing in real estate, on charges of large-scale tax evasion.

IT department sources claimed to have figured out annual tax evasion worth several crores of rupees by these business units, most of them operating from Guwahati.

�As far as our estimate goes, these establishments would have to surrender crores of rupees as tax dues, which they have been evading for years,� a senior IT official pointed out.

The official stated that with income tax generation, tax evasion in the State, too, has taken a leap.

The official, however, refused to disclose the identity of the firms under the department�s scanner.

�We have intensified our vigil and searches and raids have been conducted as and when it is required,� the official stated.

Giving an insight into the recent raids conducted by the department, the official said that the tax evaders, over the last few years, have gone on to repay a huge amount of money.

On the latest raids conducted in jewellery outlets in the city, the sources stated that the documents seized during the raids are being scrutinised after which the amount of tax evaded could be figured out.

The IT department, it may be mentioned, had conducted a number of searches in the State in the last one year, especially in the capital city and detected large-scale fraudulent cases.