Tax defaulters beware! With tax recovery to the tune of more than Rs 1 lakh crore held up for lack of information about the whereabouts of defaulters, the Income Tax (I-T) department is working on plans to publish their names in newspapers.
Tax defaulters beware! With tax recovery to the tune of more than Rs 1 lakh crore held up for lack of information about the whereabouts of defaulters, the Income Tax (I-T) department is working on plans to publish their names in newspapers.
The problem has been further compounded with several of the tax defaulters having created benami assets to escape the dragnet. The I-T department is embarking on this 'out of the box solution' of bringing the names of tax defaulters in public domain in a bid to expose them.
The department, according to the official proposal, will publish in newspapers the names of those defaulting assessees who are either not traceable or whose assets are not identifiable. Informants, in such cases, will also be given incentives which may include cash rewards, the proposal said.
The assests, according to I-T sources, are not identifiable as either they are being created and invested under 'benami' heads or are not ascribed directly to the defaulting taxpayer, and are on the name of their extended family members or friends.
ADVERTISEMENT
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
