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Business EconomyPosted at: Jan 17 2018 1:23PM


J&K IT Department prepares list of defaulters, to focus on recoveries

Jammu, Jan 17 (UNI) The Jammu and Kashmir Circle of Income Tax Department is all set to step up campaign to recover the arrears of income tax and have prepared list of defaulters in the state.
“The Income Tax Department values the assessees as the most precious entities as it is the tax payers whose money is utilized for the nation’s development,” a senior IT official said.
He said that the list of defaulters in J&K has already been prepared and during the quarter ending March 31, focus shall be on recoveries.
The official further said that the recovery initiative is part of the nationwide campaign launched by the Union Finance Ministry after the process of assessments was completed on 31st Dec 2017 which earlier used to be completed by March 31.
“We are expecting the assessees to extend cooperation to the Department but if the defaulters do not respond positively despite being provided sufficient time to clear the arrears, appropriate action will be initiated under law which may extend to freezing bank accounts and attachment of properties,” he added.
“If required prosecution against the non-cooperating defaulters can also be launched,” he added.
“A target of 21 percent increase has been set for the department and it is expected of crossing the set target with the functionaries of the department putting in their best in making the campaign successful,” he asserted.
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Tags: #J&K IT Department prepares list of defaulters# to focus on recoveries
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