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January 24, Wednesday 2018 1:15 PM       

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       IT Dept reports significant hike in prosecutions against tax evaders
 
         Posted on :18:10:47 Jan 12, 2018
   
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       Last edited on:18:10:47 Jan 12, 2018
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NEW DELHI: In a bid to curb the black money menace in the country, the Income Tax (IT) Department on Friday reported that it has substantially increased criminal prosecution proceedings initiated in a large number of cases of tax offenders and evaders.

During FY 2017-18 (up to the end of November, 2017), the Department filed prosecution complaints for various offences in 2225 cases compared to 784 for the corresponding period in the immediately preceding year, marking an increase of 184 per cent, according to a release issued by the Central Board of Direct Taxes (CBDT).

The number of complaints compounded by the Department during the current FY (upto the end of November, 2017) stands at 1052 as against 575 in the corresponding period of the immediately preceding year, registering a rise of 83 per cent.

Prosecutions have been initiated for various offences including willful attempt to evade tax or payment of any tax; willful failure in filing returns of income; false statement in verification and failure to deposit the tax deducted/collected at source or inordinate delay in doing so, among other defaults.

Due to the decisive and focused action taken by the Department against tax evaders, the number of defaulters convicted by the courts has also registered a sharp increase during the current fiscal. 48 persons were convicted for various offences during the current year (up to the end of November, 2017) as compared to 13 convictions for the corresponding period in the immediately preceding year, marking an increase of 269 per cent.

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       BUSINESS
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