Clear dues by Mar 31 or face action: I-T dept to defaulters

More than 73,000 tax assessees, who had filed returns electronically, warned to pay tax dues aggregating close to Rs 4,000 cr

Continuing the scaled-up effort to nab tax dodgers, the Income Tax (I-T) Department on Wednesday warned over 73,000 tax assessees who had filed returns electronically for the current financial year to pay their tax dues aggregating close to Rs 4,000 crore by March 31 or face penal consequences.

In a statement, the department said an analysis of returns filed electronically in 2012-13 revealed 73,388 taxpayers had defaulted on such payments, amounting to Rs 3,859 crore.

"Filing a return without paying the admitted amount of tax that is payable will render such taxpayer an assessee in default under the Act’s provisions. Such taxpayers who default in payment of self-assessment tax may invite penal consequences,” the department warned.

It urged all taxpayers who’d filed returns in the current financial year and defaulted on payment of self-assessment tax of any amount to pay the dues before March 31.

The I-T Act requires payment of dues on all income chargeable to tax in the financial year concerned, before filing the return, the department reminded the assesses.

“Further, any taxpayer who files his return in the future, and on self-assessment indicates a certain amount of tax payable, should pay such tax while filing the return,” the department cautioned.

The revenue department is plugging each and every source of revenue to achieve the Rs 5.65-lakh-crore target under the direct taxes category for this financial year, which will end on March 31.

This is yet another measure on the part of the I-T department to tighten the  noose on the dodgers. It has already written to 70,000 permanent account holders, who had emerged as high value spenders from various pieces of information, to file returns.

It is also planning to make electronic filing of returns mandatory for taxpayers with taxable income above Rs 5 lakh. At present, those with income above Rs 10 lakh are required to file their returns in the electronic mode.