Tax Department logs sharp rise in prosecution of tax evaders
(4 months ago)
New Delhi, Jan 12 : The Income Tax Department has recorded a sharp increase in prosecutions of tax evaders following an intensified drive against black money, the government said on Friday.
During the first eight months of 2017-18 ending November, tax authorities filed prosecutions in 2,225 cases, as against the 784 cases in the corresponding period of the preceding fiscal, recording a rise of 184 per cent, a Finance Ministry release said here.
"Prosecutions have been initiated for various offences including wilful attempt to evade tax or payment of any tax; wilful failure in filing returns of income; false statement in verification and failure to deposit the tax deducted/collected at source or inordinate delay in doing so, among other defaults," the statement said.
The number of complaints compounded by the Department during the current financial year (upto the end of November 2017) stands at 1,052 as against 575 in the corresponding period of the immediately preceding year, registering a rise of 83 per cent," it said.
Compounding an offence occurs when the defaulter admits to the offence and pays the compounding fee as per stipulated conditions.
Providing a list of some notable convictions, the statement also said 48 offenders have been convicted during the current fiscal till Novemver, as compared to 13 convictions for the corresponding period last year, marking a sharp increase of 269 per cent.
While the MD of a Bengaluru firm has been sentenced to rigorous imprisonment of three months alongwith a fine for not depositing employees' tax deducted at source (TDS) of over Rs 60 lakh within the prescribed time, an individual in Ernakulam has received the same imprisonment for selling property to evade payment of taxes of about Rs 76 lakh, the statement added.