NEW DELHI: The CBDT today cautioned lurking stash holders saying it has prepared a database of about “nine lakh pieces” of instances of high-value transactions and it will soon “confront” them with this information as part of its exercise to ensure timely declarations under the ongoing one-time black money window.
Central Board of Direct Taxes (CBDT) Chairman Atulesh Jindal, while talking to reporters here, said all those people who have such untaxed assets and funds should come forward and make their declarations before it is too late to utilise the Income Declaration Scheme (IDS) that ends on September 30.
“A detailed exercise has been carried out and we have prepared a database of 9 lakh pieces of information (on cases of high-value and potential unreported cases)….It (database) has been prioritised. This is one area to tackle the tax evasion besides other enforcement measures. We will issue them (taxpayers) letters and confront them that we have information.
“We will certainly like to give them opportunity to come clean. People should avail this window. We want to say that we have this database and we will make them aware about this. The option is with them (to use the IDS or not),” Jindal said. (AGENCIES)
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