Income Tax Department

income tax department With country management asking Income Tax Department to move ahead with the tax cases related to highprofile Tamil Nadu firm Vasan Healthcare, ex UPA finance minister P Chidambaram said no partner of his housewifery had economical interests in Vasan the whistleblowers in the Indian Revenue Service appear to are vindicated.

income tax department

Newest Revenue Secretary Mr Hasmukh Adhia held a meeting these days and directed senior officials to make concrete action on tax challenges evasion and TDS default in accordance with Income Tax Act, in accordance with credible sources. Eyebrows were being raised over the serious problem as no prosecution case had been filed against Tamil Nadu business Vasan Healthcare despite business not depositing a quantity of Rs 1922 crore with the governance that it had deducted from its salaries employees in 2012.

This constitutes a really assured offence as the employees have paid the tax still it has got not been passed on to country management.

income tax departmentSenior officials point out that in identical instances of TDS default such as the Vijay Mallya case related to Kingfisher Airlines, and Spicejet case involving the Maran brothers, IT Department had moved promptly to file prosecution proceedings.

In Vasan case Healthcare the case had been permited to linger on with no prosecution proceedings to be filed. There has always been a Supreme Court judgment which lays down that any delay in TDS payments to the country management constitutes a default and appropriate action has becoming taken under the Act,” a senior IRS official ld Mail This evening.

Vasan Healthcare individual Ltd had in a petition to CBDT chairman dated March 19, 2015 calls for having an integral part of Rs TDS amount 1922 crore payable by the business adjusted against refund that it was expecting from the IT Department.

It had likewise requests for extra time for paying in installments the TDS remaining portion that it owed administration. Interestingly, the Income Tax Commissioner, Rajiv Hota, who had raised demand for payment of TDS in Vasan case had been sidelined subsequently with a posting that was below his level seniority.

Advises to comment on delay on the real issue, Direct Central Board Taxes ld Mail Tonight. As much as Vasan request overall health Care in their petition to Chairperson CBDT has been concerned, identical was rejected immediately on receipt and such rejection was duly conveyed to jurisdictional authorities. Actions including prosecutions in specific cases have been not dealt with by CBDT but by respective jurisdictional authorities in Income Tax Department. You could find some more info about this stuff on this web site. As per Income provisions tax Act 1961, essential actions in respect of defaults pertaining to TDS probably were to be taken by them the statement, sent by RK Yadav Commissioner CBDT, further said.

Regarding the Commissioner handling TDS matters at Coimbatore I sometimes can inform that before work restructuring force in the Income Tax Department, Commissioner TDS Chennai was caring for Coimbatore TDS matters.

Was abruptly transferred from the post, Vasan concern came in the limelight when Commissioner of Income Tax MS Rao had been pursuing the tax evasion case against Vasan.a brand new post of Commissioner TDS was created and present incumbent got posted as per due process, the statement added, after restructuring. Nevertheless, he got moved Central Administrative Tribunal against his transfer.

Rao has alleged in his affidavit that former UPA finance minister P Chidambaram’s son Kanti Chidambaram is always related to Vasan, and senior officials who were appointed to key positions when Chidambaram was the finance minister wanted him to go soft on the case. Rao has alleged that transfer had been to punish him for not heeding higher unlawful expectations officials.

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