I-T lens on nearly 7 million non-filers who made high-value transactions

The department is in the process of sending notices to these non-filers

The Income Tax Department has identified 67.54 lakh potential non-filers, who carried out high value transactions in 2014-15 but failed to file returns for the assessment year 2015-16, an official statement said on Thursday.

"The Income Tax Department has conducted the fifth cycle of data matching which has identified an additional 67.54 lakh potential non-filers who have carried out high value transactions in the financial year 2014-15 but did not file return of income for the relevant assessment year 2015-16," said a Finance Ministry statement.

In more than 760 search and seizure operations after demonetisation of Rs 500 and Rs 1,000 notes+ on November 8, the I-T department has unearthed at least Rs 3,590 crore in unaccounted income. The department has issued 3,589 notices since November 8 to various entities for alleged tax evasion and hawala dealings.

The information relating to the identified non-filers has been made available in the 'compliance module' on the e-filing portal of the income tax department. The information will be visible only to the specific PAN holder when they log into the e-filing portal at https://incometaxindiaefiling.gov.in.

"The PAN holder will be able to respond electronically and retain a copy of the submitted response for record purpose," the statement said.

"While the Government urges all tax payers to disclose their true income and pay taxes accordingly, the department would continue to pursue the non-filers vigorously till all the high potential non-filers are covered," it added.