Govt asks taxpayers to disclose true income or face action

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Agencies: New Delhi, Dec 10 2012, 17:06 IST

date for paying the third instalment of advance tax for corporates and the second instalment for all other assesses.

"For assesses who have not yet paid the correct advance tax, there is an opportunity to rectify the mistake and pay the advance tax by December 15," Bose said.

Soon after assuming charge of the Ministry, Finance Minister P Chidambaram had made a statement regarding taxation and tax administration.

He had emphasised on clarity in tax laws, a stable tax regime, a non-adversarial tax administration, a fair mechanism for dispute resolution and an independent judiciary that will provide great assurance to investors.

Asking assesses to pay advances taxes by due date, Chidambaram had said: "paying taxes is a mark of civilisation.

If I pay more taxes, I should be more happy and more proud. I am making more money and I am paying more taxes".

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Reader's Comments (7)| Post a Comment

politicians worst than prostitutes

rajesh shukla | 11-Dec-2012Reply | Forward

let the finance minister, first ask the industrialists, to repay crores of rupees, taken as loans and never repaid,bribed the corrupt, good for nothing beggars who call themselves politicians,ask the income tax departments to sieze politicians properties and auction them so that the corrupt politicians can enjoy the money to get themselves protected by the police.

Fe Comment

Raju | 10-Dec-2012Reply | Forward

Why don't you ask the Politicians, IT officials, EPF Officials, Property Registrars,Political Parties ,Bureaucrats allotting Road and Building Contracts to declare their Income and Sources of Income? What about Those who never pay any income tax and out of your net? You people keep on harassing only those who pay IT regularly.It is high time you broaden your base for collection of IT and not every time start squeezing only the few with PAN Cards.

tax

kumar | 10-Dec-2012Reply | Forward

Pay so that politician can siphon it off ,income tax, sales tax,vat,exercise duty ,cess, how much more do you want people to pay? when will you reduce corruption in PSU tenders? people with black money never have to fear this talk is only for aam amdmi.