STATE TIMES NEWS
KATRA: Under the directions of Principal Commissioner of Income Tax, (J&K), Jammu R. N. Sahay and the supervision of the Joint Commissioner of Income Tax, Range-2, Jammu S. S Negi, the Income Tax Officer, Katra, Dharmender Gupta on Wednesday held awareness camp and interactive session with the businessmen and representatives of various trade associations of Reasi which included members from Karyana, jewellery, cloth associations, contractors, etc.
During the interaction, he enlightened the gathering about the role of the taxpayers in the building of the nation and stated that paying taxes honestly is the biggest symbol of patriotism in itself and requested people to promote tax awareness among the non-taxpayers considering it as their social responsibility.
The Income Tax Officer sensitised the gathering about the liberal functioning of the Income Tax Department and stated that the declarations made by the taxpayers in their Income Tax Returns are accepted without any questioning and without demanding any proofs/documents and less than 0.1 per cent of the returns are subjected to scrutiny by the Department that too where credible information of transactions or investments is available but do not match with the returns filed or in cases where no return have been filed. He appreciated the role of taxpayers falling under the jurisdiction of Distt. Reasi in view of the fact that budget collections from this district has not only achieved but exceeded substantially. However, he stated that from the data available with the department it has been observed that tax collections are still not encouraging and there is still large scope of improvement. It has also been noticed that quite good number of persons who are liable to file their returns of income and pay taxes are not either filing return or under-reporting their income(s). It was impressed upon the representatives of the various business associations that people should voluntarily declare true and correct income to avoid any punitive action from the Department. Without naming the business establishment, he disclosed that the recently conducted survey operation in Reasi town was done because the business group was not paying taxes and filing returns as per their business profile. He made aware that similar action in other cases cannot be ruled out where evasion of taxes is clearly visible. He further stated that it is in the notice of the department that huge number of taxpayers who are liable for paying advance tax are paying substantial self assessment tax which prima facie gives an impression that income is being manipulated while preparing the returns. It was advised that due Advance tax should be paid as per the provisions of the Act i.e. 15, 45, 75 and 100 per cent on or before June 15, September 15, December 15 and March 15 respectively in the F.Y in which the income is earned. The Income Tax Officer also threw light on the cases identified by the Department, particularly of salaried employees, wherein false refunds have been claimed by declaring dubious deductions and/or under reporting of income. The Department is in the process of initiating proceedings against these persons for recovery of refunds and penalty imposable and also contemplating prosecution proceedings in the court of law. A message of caution was given by the officer to all those defaulting persons to immediately deposit the fraudulent refunds clamed in the Govt. account and voluntarily revise their Income tax returns to avoid punitive actions by the department.
The session was held in local language which was appreciated by the participants. Various queries raised by the participants were taken into consideration and satisfactorily resolved by the Income Tax Officer. The welcome address was given by Jodh Singh, President Karyana Association, Reasi and the vote of thanks was presented by Vijay Choudhary, Inspector of Income Tax Office, Katra.
Long-haul flights gaining preference amongst Indians: Report
11 Yoga postures that can help you live a 100 years
ASTROLOGY: Weekly predictions 24TH – 30TH JUNE 2018
KWFF-Children’s films screened
IIFA Rocks: Film industry celebrates cinema with dance, music and fashion, honours stars behind the camera
© 2017 State Times Daily Newspaper