TDS one of good sources of information to IT Department: Nishi Singh

Ludhiana, March 12, 2014: The Chief Commissioner of Income Tax (CCIT), Ludhiana Region Nishi Singh, has said that the tax deducted at source (TDS) is one of the good sources of information. Addressing a press conference here on Wednesday, she added the data collected has been computerized and the department has been able to generate data of assessees who, though, have taxable income, did not file their returns of income.

She added in Ludhiana Region itself 7,463 such cases have been identified so far and letters in 7,259 cases have been issued to the taxpayers. “In response, 4058 new returns have been filed”, she said, adding letters are also being issued in respect of information collect to AIRs.

She said in order to avoid any penal consequences, it is their appeal to taxpayers that they should file their returns voluntarily and pay their due taxes as in the current era of technology it is very difficult for the tax payers to conceal their income and wealth for long.

“It is also the appeal to those taxpayers who have not filed their returns of income for A.Y 2013-14 to file their returns by March 31, 2014 to avoid penalty of Rs.5,000”, she said.

Further, she said the assessees are also liable to pay advance tax in instalments. She added the third and last instalment of advance tax in case of non-corporate assessees and fourth and final instalment of advance tax in case of corporate assessee is due to March 15, 2014. She said the department appeals to all the taxpayers to pay correct amount of advance tax before the due date.

BK Singh, Additional Commissioner of Income Tax (Headquarters), Ludhiana, BB Nanawati, Commissioner of Income Tax-I, Ludhiana, Binod Kumar, Commissioner of Income Tax-II, Ludhiana and Raman Kumar Goyal, Commissioner of Income Tax-III, Ludhiana were also present at the press conference.