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Rediff.com  » Business » Coercion no good to unearth unaccounted money: Taxman

Coercion no good to unearth unaccounted money: Taxman

October 18, 2013 15:27 IST

TaxThe Income Tax department has never looked at coercion as a way to unearth accounted money and the idea is not to create nightmares, a senior tax official said on Friday.

"The department is never looking coercion as a way. I would like to assure everybody. . .our idea is not to create nightmare, or to coerce or to threaten or to extort. If these things are happening please feel free to get us to know," Director General Income Tax (Investigation), Delhi region, Arun Kumar Singh said during an event organised by PHD Chamber.

Singh said the department has to do an ‘unpleasant’ job but they are mandated to do so.

"We as a department are an information based department. We have to have information, on the basis of which information the confirmation officer has to have reasons to believe the sufficiency of the information.

“But. . .we have some adverse decisions also," he said.

Asked if the government has any target on unearthing unaccounted money, he said no targets have been set.

The Finance Ministry has asked tax evaders to pay their dues or face necessary action.

The Ministry has set indirect tax collection target, comprising customs, excise and service tax, at Rs 5.65 lakh crore (Rs 5.65 trillion) for 2013-14, up from Rs 4.73 lakh crore (Rs 4.73 trillion) in the last fiscal.

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