Income-tax department identifies 30,000 cases for scrutiny

The government will scrutinise 30,000 cases among taxpayers, individual and non-individual, who tried regularising their unaccounted incomes by filing returns in response to the note ban in November last year.

Meanwhile, there has been 21 per cent growth in the online filing of tax returns as of August 1, with 23.3 million individuals filing returns for the financial year 2016-17, against 19.2 million in the corresponding period last year, when growth was 10 per cent.

The jump could be owing to demonetisation, the introduction of the goods and services tax (GST), and other back money-deterrent measures announced by the government.

“We have selected 30,000 cases for partial scrutiny and full scrutiny of entities and individuals who tried to regularise their unaccounted income during demonetisation,” said a senior official in the Central Board of Direct Taxes (CBDT).

The income-tax (I-T) department has identified people who either showed a significant jump in ‘cash in hand’, or filed a return for the first time, reporting a big sum.
READ MORE