Taxpayers Told To Disclose True Income Or Face Action

PRESS TRUST OF INDIA

New Delhi, Dec 10: In a stern warning to tax evaders, the government today asked them to either disclose their correct income and pay advance tax by December 15 or be prepared to face action.
 "Government would urge all assessees to disclose their true income. There is no advantage in suppressing the true income or avoiding paying income tax that is due", Revenue Secretary Sumit Bose told reporters here.
 Regretting that there was "gross-understatement" in filing of advance tax by assessees, he said, "sooner than later, the information available with the income tax department will lead the department to the doors of such persons."
 Bose said that during assessment year 2012-13, only 14.62 lakh assessees including professionals and companies have declared their taxable income of over Rs 10 lakh, adding "any fair minded person will agree that this is a gross under- statement."

Lastupdate on : Mon, 10 Dec 2012 21:30:00 Makkah time
Lastupdate on : Mon, 10 Dec 2012 18:30:00 GMT
Lastupdate on : Tue, 11 Dec 2012 00:00:00 IST



  • del.icio.us
  • StumbleUpon
  • Digg
  • TwitThis
  • Mixx
  • Technorati
  • Facebook
  • NewsVine
  • Reddit
  • Google
  • LinkedIn
  • YahooMyWeb
  • Print News
  • YahooMyWeb

Code Image  Load New Code
Enter the Security code exactly as you see it in the image security code is CaSe SeNsItIvE(Cookies must be enabled)
  • MORE FROM BUSINESS

  • Kashmir

On IHR Day, Hurriyat (M) stages dharna in New Delhi

Srinagar, Dec 10: On the International Human Rights Day, a delegation of Hurriyat Conference (M) along with three dozens women victims of rights violations on Monday staged a dharna at Parliament Street More


  • Srinagar City

SHRINKING DISTANCE MODE EDUCATION

KU plans to reduce B Ed intake capacity, draws concern from academicians

IMRAN MUZAFFAR

Srinagar, Dec 10: At a time when Bachelors of Education is prerequisite for teacher’s job and many aspirants who cannot afford to pursue the B Ed in regular mode had been banking on the course through More



  • Jammu

No alternative to PDP in JK: Mufti

GK NEWS NETWORK

Jammu, Dec 10: Former Chief Minister and patron Peoples Democratic Party, Mufti Muhammad Sayeed, Monday said that there was no alternative to his party in Jammu and Kashmir.“The way people have been supporting More


  • South Asia

Appoint special representative to monitor HR situation in JK: APHC (M)

Muslim League Organizes Seminar

NISAR AHMED THOKAR

Islamabad, Dec 10:  The All Parties Hurriyat Conference (M) PaK chapter on Monday made a passionate appeal to the United Nations urging the highest body to appoint special representative to monitor More


  • World

UAE Cabinet approves extradition agreement with India

PRESS TRUST OF INDIA

Dubai, Dec 10: The UAE Cabinet has approved an extradition agreement with India which will allow the transfer of around 1,200 Indian convicts languishing in the Gulf nation to their home country to spend More


  • Bandipora

R&B deptt goes into hibernation

Vital projects stalled in Bandipora from last 5 years

Bandipora: Inordinate delay by the Roads and Buildings department in completion of various developmental projects across the district has raised question marks over its functioning. Many projects More


  • GKeducation&Careers

‘Allow kids to think critically’

BETTER EDUCATION

Since 2008, Kashmir Education Initiative (KEI), a volunteer-driven philanthropic organization with a focus on education in Kashmir, has been quietly supporting education of talented and deserving Kashmiri More


ADD
Designed Developed and Maintaned By Imobisoft Ltd /Algosol Software Solutions