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Income Tax Department Recovers Rs 37, 000 Cr from Individuals Not Filing Returns Despite Taxable Income
Income Tax Department’s extensive crackdown! Over the past 20 months, the Income Tax Department has collected Rs 37,000 crore from individuals who had taxable income but failed to file returns, according to Officials.
Officials analysed data on substantial transactions since 2019 – 20, Including Purchase of Gem, Jewellery, Property and Luxury holidays Paid in cash. These are the Cases where People were not Filing tax Return despite making Large Purchase. The Department had reached out to them over the past 20 months, “A Senior Official Informed ET.
The official noted that an expanded and stricter tax collection and TDS system has helped identify significant transactions that previously went unnoticed.
The official indicated that some individuals submitted returns claiming zero income despite substantial expenditure and tax obligations. From the total Rs 37,000 crore recovered, Rs 1,320 crore came from individuals involved in High – Value transactions.
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