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| 100 politicians on IT radar | | |
EARLY TIMES REPORT
JAMMU, SEP 7: With some unscrupulous politicians on their radar, the Income Tax department is taking to innovative measures by outsourcing part of their job to the trusted Chartered Accountants.
Income Tax department sources told Early Times that they were watching over the financial activities of influential yet chronic tax evaders and a foolproof exercise is underway to catch hold of them. “We are ascertaining the records in a manner that when hands is laid on them there is no escape route other then shelling out the tax money to government coffers”, said the IT officials.
It is learnt that some 100 politicians of different hues are on the radar of IT department and their deals and assets have been put on the watch list. Authorities in the department informed that activities of non tax payers liable to it are being watched minutely and measures will be taken to tape them and making the tax paying mandatory across the state.
Sources informed that about 100 politicians are under the scanner of the CIT department who had not paid the tax and had shown their property fraudulently less to the actual they posses. Election Commissioners office is being approached to get the accurate details about the politicians against whom drive is to be launched, official sources revealed.
The main objective of organizing first ever Zonal Conference of the Chief Commissioner and Directorate General of Income Tax (North West region) held on 4th September is to achieve the set target of taxes, Commissioner CIT, Jammu B. L Razdan said media reporters. He said that industrialists should not bank upon incentives instead should learn to survive in the competitive market by using policies of competition and quality orientation.
Hinting over a case between Liberty India vs CIT in Amritsar, Razdan said as the decision has been given in favour of CIT which will serve an eye opener for department as well as the firm holders in terms of revenue collection and tax deposition respectively.
Going by the figures provided by the officials the state of Jammu and Kashmir has collected revenue worth to Rs. 119. 87 crores in total for the year 2008. About Rs. 115 cr from Jammu region and about Rs. 4.87 cr from Kashmir due to militant threat who threatened people to not to pay the taxes and others fees. However, in comparison to last year’s revenue collection of Rs 19 cr this year CIT has collected Rs. 33 cr till the month of August, further informed Razdan.
He said that Rs. 2.73 crores were acquired in a single case for which CIT has intended to introduce New Direct Tax Codes with which industrialists, business house and other allied establishments will be taken in confidence and suggestions from them will be entertained for the better interest of both department as well as the business community. He said utilizing the formula interest should be saved by tax payers as last year by charging interest u/s 220(@) recovery of about Rs. 3 cr were made by NWR.
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