Income Declaration Scheme: CBDT prepares 9 lakh spl cases; to confront taxpayers 

New Delhi: The CBDT on Monday
cautioned lurking stash holders saying it has prepared a database of about nine
lakh pieces of instances of high-value transactions and it will soon confront
them with this information as part of its exercise to ensure timely
declarations under the ongoing one-time black money window.

Central Board of Direct Taxes (CBDT)
Chairman Atulesh Jindal, while talking to reporters here, said “all those
people who have such untaxed assets and funds should come forward and make
their declarations before it is too late to utilise the Income Declaration
Scheme (IDS) that ends on September 30.”

“A detailed exercise has been carried out
and we have prepared a database of 9 lakh pieces of information (on cases of
high-value and potential unreported cases)....it (database) has been
prioritised.”

“This is one area to tackle the
tax evasion besides other enforcement measures. We will issue them (taxpayers)
letters and confront them that we have information. We will certainly like to
give them opportunity to come clean.”

“People should avail this window.
We want to say that we have this database and we will make them aware about
this. The option is with them (to use the IDS or not)“, Jindal said.

He said over one lakh cases under this
database relate to transactions of over Rs 1 crore. The CBDT boss, to whom the
Income Tax department reports, called the IDS a one-time opportunity given to
black money holders to come clean.

PTI