LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Focussing on improving compliance, identifying areas which have escaped tax net: Revenue Secy

"So in the areas where is there of scope taxation, and where it can be done without any adverse impact, such areas will have to be identified and accordingly we will have to work on this."

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Focussing on improving compliance, identifying areas which have escaped tax net: Revenue Secy
Government is looking at bringing untaxed sectors in the tax net as well as improving compliance to raise the tax-to-GDP ratio, Image source: Pixabay
Written By: PTI
Updated: Mon, Dec 31, 2018
09:55 am
New Delhi, PTI
RELATED NEWS
Centre to release another Rs 35,000 cr compensation to states soon Centre to release another Rs 35,000 cr compensation to states soon
12% tax revenue growth achievable in 2020-21 fiscal: Revenue Secy 12% tax revenue growth achievable in 2020-21 fiscal: Revenue Secy
Will focus on improving tax-GDP ratio, making system assessee friendly: Revenue Secretary Ajay Bhushan Pandey Will focus on improving tax-GDP ratio, making system assessee friendly: Revenue Secretary Ajay Bhushan Pandey
Who is Ajay Bhushan Pandey, the man appointed as new Revenue Secretary after Hasmukh Adhia retired Who is Ajay Bhushan Pandey, the man appointed as new Revenue Secretary after Hasmukh Adhia retired
GST return simplification panel to meet industry this week GST return simplification panel to meet industry this week

The government is looking at bringing untaxed sectors in the tax net as well as improving compliance to raise the tax-to-GDP ratio, Revenue Secretary Ajay Bhushan Pandey said.

He also said GST officials would ensure that taxpayers who are paying taxes honestly are not disturbed, but those who are defaulting in payment or not filing returns should be brought within the tax fold.

In an interview to PTI, Pandey, who took charge as the Revenue Secretary earlier this month, said the Income Tax Department will implement faceless assessment for all scrutiny cases over the next one year as it seeks to make the process objective without any scope for bias.

Asked how the government would go about increasing the tax-to-GDP ratio, Pandey said: "There are two issues to this. One involves the policy of the government as to which are the areas which are not taxed and should be brought into the tax net. The other involves wherever some steps are required to improve compliance, there compliance should be ensured.

"So in the areas where is there of scope taxation, and where it can be done without any adverse impact, such areas will have to be identified and accordingly we will have to work on this."

In the last four years, the country's tax-to-GDP ratio has improved from 10 per cent to 11.5 per cent.

Finance Minister Arun Jaitley had earlier said that while the salaried class pays its due share of taxes, "most other sections" have to improve their tax payment record, which is keeping India "far from being a tax-compliant society".

Pandey said the number of income tax return filers has jumped 50 per cent to over 6 crore in the assessment year 2018-19 compared to the year-ago period.

He said in order to improve the tax compliance and also to facilitate the honest taxpayers, various initiatives are being planned by the Central Board of Direct Taxes.

Watch Zee Business Tweet video here:

#BrokerageReport | साल के आखिरी दिन किन शेयरों को खरीदें और बेचें, क्या है दिग्गज ब्रोकरेज हाउस की रिपोर्ट जानते हैं देवांशी अशर से।@AnilSinghviZEE @devanshiashar @dkalra81 #stockstowatch #stocksinnews pic.twitter.com/Cn4aI3l9Kn

— Zee Business (@ZeeBusiness) December 31, 2018

"Our endeavour is that over a period of next one year or so, we should move towards a system where the scrutiny will happen in a faceless manner where a person can be given a questionnaire of the points which have been raised in the scrutiny and then the person can reply on the portal or through the

emails to the officer who can be located anywhere in the country so that the case of scrutiny is decided in a very, very objective manner without any scope for any bias or harassment," he said.

With regard to the Goods and Services Tax (GST), Pandey said tackling evasion would be one of the priority areas as it not only affects the revenue of the government, but also makes those businesses which are honestly paying tax less competitive.

"Our effort is to bring in systems so that the tendency to evade is brought down so that those who are paying taxes honestly are not put at disadvantage.

"What we are trying to ensure is a large number of taxpayers who are paying taxes honestly, they are not to be disturbed. And those who are defaulting in payment or filing returns, or not filing correct returns, and not paying due taxes should be brought within the tax fold," he said.

Over 1.16 crore businesses are registered under GST, which was rolled out on July 1, 2017, after subsuming 17 local taxes, including excise duty, service tax and VAT.

Stating that only a "fraction of a percent" of registered taxpayers would be asked for clarification in case of mismatch in returns, Pandey said in cases where clarification is not sufficient, further action would be taken.

"Whole purpose is no honest taxpayer should be disturbed and at the same time we have to discourage people who evade taxes so that government revenue is not impacted and competitiveness of honest businesses also does not suffer," he said.

The monthly GST revenues have averaged Rs 97,100 crore in the April-November period of the current fiscal, up from Rs 89,100 crore in the pervious financial year.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Ajay Bhushan Pandeytax payers
RELATED NEWS
Centre to release another Rs 35,000 cr compensation to states soon Centre to release another Rs 35,000 cr compensation to states soon
12% tax revenue growth achievable in 2020-21 fiscal: Revenue Secy 12% tax revenue growth achievable in 2020-21 fiscal: Revenue Secy
Will focus on improving tax-GDP ratio, making system assessee friendly: Revenue Secretary Ajay Bhushan Pandey Will focus on improving tax-GDP ratio, making system assessee friendly: Revenue Secretary Ajay Bhushan Pandey
Who is Ajay Bhushan Pandey, the man appointed as new Revenue Secretary after Hasmukh Adhia retired Who is Ajay Bhushan Pandey, the man appointed as new Revenue Secretary after Hasmukh Adhia retired
GST return simplification panel to meet industry this week GST return simplification panel to meet industry this week

LATEST NEWS

REVEALED! This is the most preferred financial product to protect family post-COVID 19 pandemic

Historic moment! New era of space reforms in India! PM Narendra Modi hails 1st dedicated commercial launch of PSLV-C51/Amazonia-1 Mission

Covid 19 vaccination drive 2nd phase: PM Modi takes his first dose of Covid 19 vaccine at Delhi AIIMS

Mann Ki Baat Latest Episode: What all PM Narendra Modi said in his popular radio programme today - Know here

New Inbase smartwatch Urban LYF is here - Check features, offers, promo code and more

Websites of traditional media houses to come under the ambit of section 69(A) of IT Act: Report

Homebuyers alert! Avoid real estate troubles by knowing these top 5 things before buying flat in 2021

Apple, Croma join hands on Steve Jobs' birth anniversary

Centre finalises One District One Focus Product to promote in cluster approach

Big insurance offers! 80-100 per cent discounts - All you need to know about renewal of health policies

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved