Monday, August 29, 2016

I-T dept to ‘name & shame’ chronic crorepati defaulters

NEW DELHI: As part of its ‘naming and shaming’ policy to curb tax evasion, the Income Tax Department may soon go on to publish names of even those taxpayers who have a ‘chronic’ default of Rs one crore and above.

Officials said the policy framework for putting the names of such entities in public domain has been in the making for quite some time and the proposal is now being vetted by the Central Board of Direct Taxes (CBDT).

An action plan in this regard was also discussed during the Tax Administrators conference held here a few months ago and once the CBDT approves the policy, the names would be published in leading dailies and could possibly also be displayed on the department’s official web portal, they said.

“The subject will be discussed by the CBDT with senior I-T brass in the next few days after which a final decision will be made. The proposal is that cases of chronic default of over Rs one crore would also be publicly named, on the lines of a similar step taken against large tax defaulters beginning last year,” a senior official said. (AGENCIES)

The post I-T dept to ‘name & shame’ chronic crorepati defaulters appeared first on Jammu Kashmir Latest News | Tourism | Breaking News J&K.



from Daily Excelsior http://ift.tt/2bMa4vH

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