Puducherry: Principal Chief Commissioner of Income Tax Ravichandran said that Rs 260 crore of TDS has been collected in Puducherry zone.
Participating in a seminar on TDS, Income Tax in Puducherry, he told reporters:
Collection of TDS is important for Income Tax Department. The target given to Tamil Nadu this year is Rs.1.08 lakh crore. 85 thousand crores have been collected so far.
It is hoped that by March we will exceed the target and collect Rs 1.25 lakh crore.
In Tamil Nadu, TDS, tax collection has grown by 36 percent. It is 26 percent nationally.
In the TDS survey on non-tax payers, we have found Rs 183 crore in Tamil Nadu so far in terms of non-deduction of tax and non-payment of tax withheld to the Income Tax Department. This is a violation of law.
Indulging in such activities will attract interest, fines and imprisonment. So far, Rs 240 crores have been collected by identifying the non-filers of income tax.
Of the target of Rs.600 crore set for Puducherry region, Rs.420 crore has been collected so far. TDS has collected Rs.260 crores.
This is a 36 percent increase over last year. Puducherry Zone TDS And other tax collections are also flourishing.
There are two Acts namely Prevention of Benami Act of 2015 and Prevention of Black Money Act to detect investments abroad.
It has agreements with 150 countries to get information about foreign investors. In this, if you ask for the records of specific persons, they will give their full details. The law provides for 40 percent tax, 40 percent fine and imprisonment of the property value of the person found in this way.
For the first time, 7 people have been sentenced to imprisonment and fined in the case filed by the tax department. Tax evasion should not be taken lightly.
He said that 90 percent of the transactions have been identified because the Aadhaar number and PAN number have been linked to the bank account.
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