In addition, smaller towns like Alwar, quota And Jalna is witnessing recovery of huge amount of cash, officials told TOI. Recent searches on steel bar manufacturers have resulted in the recovery of huge amount of cash and jewelery from Mumbai. AurangabadNashik and Jalna.
Officials said that in many smaller cities, the IT department has a very small footprint, which has encouraged thieves, who often believe they may be able to escape the taxpayer’s radar. For the current financial year, special emphasis has been placed on cash transactions and several businesses where transactions are still taking place in cash and are under scrutiny.
Officials said that in the case of hospitals, there are several instances of PAN not being submitted, despite being mandated by law. While the department is pushing for this and is also planning action against errant hospitals, it is using data available with healthcare providers to track patients who have spent large sums of money in private healthcare facilities. had paid. On their part, the hospitals have argued that it is not always possible to collect PAN as patients often come to the emergency section.
Similarly, action has been taken against some banquet halls in recent months, though the transactions are not always reflected in their books. In certain segments such as high-end watches, the tax department has found that transactions are above board, with retailers having detailed lists of buyers and their details.
Officials also said that some professionals are under the lens and tax authorities are proceeding against them wherever there is solid evidence. For example, in recent months there have been some actions against some architects who said it is not the case that all professionals are being scrutinized.
The tax department believes that it has detailed data available with it, which it is exploiting. For example, Annual Information Statement Throwing away large amounts of information that is being processed and analyzed wherever the data is not being reflected in the returns. Further, the linkage with GST has resulted in either the income tax payers being innocent or facing action.