Tax Department To Reach Out To More Than 15 Million Taxpayers Who Skipped Return Filing
The Income Tax Department has its sights set on over 1.52 crore individuals who failed to submit their mandatory tax returns, despite meeting the criteria for filing. As per the Central Board of Direct Taxes (CBDT), these individuals had income exceeding the taxable limits or had tax deducted at their source but neglected to file returns for the financial year 2022-23.
According to sources, out of the estimated 8.9 crore taxpayers for FY2023, only 7.4 crore returns were submitted. This indicates there is a discrepancy of 1.97 crore returns. Upon further analysis, the CBDT found 1.52 crore cases belonged to individual filers while the rest involved HUFs, firms and other entities.
The taxman has closely examined TDS records and high-value transactions linked to these PAN numbers. In some cases, banking data showed significant activity necessitating a return. From April 15th, field officers will reach out to these non-compliant taxpayers with relevant facts in order to motivate return submission.
For those with unexpectedly high incomes requiring clarification, a plausible explanation must be provided. Continued default could attract penalties under the Income Tax Act. The larger aim is to widen the tax net and ensure all citizens with sufficient means fulfill their filing obligation. With its growing database and stronger analytics, the department hopes to establish a strong deterrent against non-compliance.
