Excelsior Correspondent
JAMMU, Apr 1: Income Tax Commissioner, J&K Circle, A K Thatai today said that department has collected record Rs 1350 crore tax from the assesses in the State during 2012-13 financial year while as 4500 persons were still on the radar of the department for concealing high value transactions besides the defaulters of the Advance Tax and TDS.
Interacting with the media persons at Aaykar Bhawan this evening, Mr Thatai said, “as against the target of Rs 696.43 crore fixed for the J&K Circle by the Central Board of Direct Taxes, income tax to the tune of Rs 1350 crore, which includes Tax Deducted at Source (TDS), has been realized during the just concluded financial year”, adding “this is for the first time in the State that such a huge income tax has been collected by the department. Last year the department had collected Rs 602 crore income tax from the State”.
Attributing the record tax collection to the constant and rigorous campaign launched by the department against those concealing the exact income, Mr Thatai said, “it is a matter of great satisfaction for the J&K Circle of the department that such a huge collection has been made despite dampened overall economic scenario across the country”, adding “the cooperation extended by the assesses also played vital role in the record collection made by the department in J&K for the first time”.
In response to a question, the IT Commissioner said, “during the just concluded financial year a total of 11 surveys under Section 133A of the Income Tax Act were carried out by the department from which undisclosed income to the tune of Rs 12.48 crore was detected”, adding “during the year prosecution for offences under the Income Tax Act in 11 cases was also launched against the target of only one case”.
Ruling out any scope of complacency, Mr Thatai said, “we are still active and not going to put full stop on our exercise to tighten noose around the defaulters”, adding “at present 4500 persons are still on our radar for resorting to high value transactions but concealing the same from the department. Moreover, large number of Advance Tax and TDS defaulters are being closely monitored by the department”.
About the methodology being adopted to zero in on the high value transaction cases, he said, “there is a special branch in the department which closely monitors high value cash transactions, property transactions, heavy unaccounted expenditures, investment in shares/mutual funds and various other unreported transactions and on the basis of credible information the action is taken against such persons at the appropriate time”.
“Against the target of 76221 returns for processing, 84221 cases have already been processed which include 8000 current returns as well”, the IT Commissioner disclosed, adding during the 2012-13 financial year a total of 1600 cases were decided under scrutiny category by the department in Jammu and Kashmir.
Responding to another question, he said, “the tax payers must understand that the collected income tax goes in the central pool and then returns to the State in the shape of central grants for the developmental activities. In this way, the tax payers are contributing for the developmental of the State”.
He disclosed that during the year against total 82 complaints filed by the tax payers regarding refund claims, grievances in 72 cases were settled.
B B Singh, CIT (Appeals), R K Kakar, Mahavir Singh, Joint Commissioners, Rakesh Kumar, DC (Hqrs) and all ITOs were present in the press conference.
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