For support, write to us on: admin@taxsutra.com
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 3rd August, 2022
PRESS RELEASE
Income Tax Department conducts searches on Healthcare Provider Groups in Haryana and Delhi-NCR
The Income Tax Department carried out search and seizure operations on 27.07.2022 on several groups engaged in the healthcare services by running hospitals. A total of 44 premises were covered during the search action in Delhi-NCR.
During the course of the search operation, huge incriminating physical and digital evidence has been seized.
The analysis of evidences revealed that the one of the groups was maintaining a parallel set of books of account, indicating systematic under-reporting of receipts received from patients in cash. The modus-operandi adopted by this group included removal of invoices or deflation of the invoice amount by marking them as “Discounts/Concessions” etc., at the time of discharge of patients from the hospital. This practice, resulting in evasion of income, is being followed across all the hospitals of the group and is spread over various years.
The other healthcare groups covered in the search operation have been found to be engaged in obtaining either bogus or inflated invoices for pharmaceutical drugs and/or medical devices such as stents, leading not only to suppression of actual profits, but also overcharging from the patients. The money trail found during the investigations has further corroborated the fact that the groups have been receiving back cash in lieu of payments made through banking channels for these bogus/inflated invoices. One of the hospitals of these groups was also found to be claiming wrong deduction over the years without fulfilling the necessary conditions for the hospital to be eligible as specified business.
The seized evidence has also revealed the practice of referral payment to doctors and clinics without duly recording these in the books of account. The referral payment has been fixed at a percentage of invoices raised to the patients. Evidences pertaining to transaction of benami nature have also been uncovered during the search action.
The search operation has led to the seizure of unexplained cash of over Rs.3.50 crore and jewellery valued at Rs. 10.00 crore. So far, the unaccounted income of all the groups detected in these operations, is estimated to be more than Rs. 150 crore. More than 30 bank lockers have been put under restraint.
Further investigations are in progress.
(Surabhi Ahluwalia)
Pr. Commissioner of Income Tax (OSD)
(Media & Technical Policy)
Official Spokesperson, CBDT
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 2nd August, 2022
PRESS RELEASE
Income Tax Department conducts searches in Gujarat
The Income Tax Department carried out a search and seizure operation on 20.07.2022 on a prominent business conglomerate engaged in diversified fields of Textiles, Chemicals, Packaging, Real estate and Education. The search action covered a total of 58 premises, spread across Kheda, Ahmedabad, Mumbai, Hyderabad and Kolkata.
As a result of the search operation, various incriminating evidences in the form of documents and digital data have been found and seized. These evidences reveal that the group has been engaged in large scale tax evasion by adopting various methods, including, by way of unaccounted cash sales outside the books of account, booking of bogus purchases and on-money receipts from real estate transactions. The group has also been found involved in layering of unaccounted sums through share premium from Kolkata-based shell companies. Certain instances of unaccounted income generated through cash based ‘sarafi’ (unsecured) advances made have also been found.
It was also found that the group has been involved in profiteering through manipulation of share prices of its listed companies through operators. Evidences seized also reveal that the group has been siphoning off funds through fictitious entities for personal use of promoters. Further, analysis of evidence suggests that the group is also involved in manipulation of books of account of its public limited companies.
The search action has resulted in unearthing unaccounted transactions exceeding Rs.1000 crore. So far, unaccounted cash of Rs. 24 crore and unexplained jewellery, bullion etc. valued at Rs. 20 crore have been seized during the course of search.
Further investigations are in progress.
(Surabhi Ahluwalia)
Pr. Commissioner of Income Tax(OSD)
(Media & Technical Policy)
Official Spokesperson, CBDT
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
PRESS RELEASE
New record of over 72.42 lakh (7.24 m) ITRs filed on a single day and about 5.83 crore ITRs filed till 31st July, 2022
The Department expresses its gratitude to taxpayers and tax professionals for making compliances in time leading to a surge in filing of Income Tax Returns (ITRs) resulting in a new record of ITRs filed on a single day.
The surge of filing ITRs peaked on 31st July, 2022 (due date for salaried taxpayers and other non-tax audit cases) with over 72.42 lakh ITRs being filed on a single day i.e on 31st July,2022. The total ITRs filed till 31st July, 2022 for AY 22-23 is about 5.83 crore. The e-filing portal also set other benchmarks on 31st July, 2022 including - highest per second rate of ITR filing: 570 (at 4:29:30 pm), highest per minute rate of ITR filing: 9573 (at 7:44 pm), and the highest per hour rate of ITR filing: 5,17,030, between 5 PM to 6 PM.
The initial pace of e-filing was relatively much slower with the first 1 crore ITRs for AY 22-23 being filed only by 7th July, 2022. The pace picked up marginally, with about 2.48 crore ITRs being filed by 22nd July,2022. With the Government announcing that there would be no extension of the due date, there was a surge in filing of ITRs and by 25th July, 2022, 3 crore ITRs had been filed. By the end of the day on 31st July,2022, 72.42 lakh ITRs had been filed, shattering all previous records (maximum being 49 lakh ITRs in 2019). In the month of July,2022 alone, over 5.13 crore ITRs have been filed.
Out of 5.83 crore ITRs filed for AY 2022-23, 50% of these are ITR-1 (2.93 crore), 11.5% are ITR-2 (67 lakh), 10.9% are ITR-3 (63.35 lakh), 26% are ITR-4 (1.54 crore), ITR-5 to 7 (5.5 lakh). The number of ITRs filed during working hours (9 AM-6 PM) since 7th July, 2022 to 31st July, 2022 is around 3.31 crore, which is 58.77% of the total ITRs filed. Over 47% of these ITRs have been filed using the online ITR form on the portal and the balance have been uploaded using the ITR created from the offline software utilities.
Large number of taxpayers did their due diligence by comparing data of their income by viewing their Annual Information Statement (AIS) and Taxpayer Information Summary (TIS). A high rate of usage of AIS/TIS data was reflected by the fact that more than 5.03 crore taxpayers viewed/downloaded their AIS.
This year a large portion of the data for ITR-1 was already prefilled with salary, interest and dividend income making compliance easier for taxpayers. For other ITRs 2, 3, 4, apart from this data, property details for rental income, brought forward losses, MAT credit was also pre-filled to further ease compliance for taxpayers.
The process of e-verification through Aadhaar OTP and other methods is important for the Department to commence processing of the ITR and to issue refunds, if any. It is encouraging to note that 3.96 crore returns have been e-verified, out of which more than 3.71 crore are through Aadhaar based OTP (94%). Of the e-verified ITRs, more than 3.01 crore ITRs for AY 2022-23 have been processed (75%). In several instances, taxpayers have been getting their intimation of processing within a few minutes or hours after filing and verification of ITRs.
Further, the new facility for making tax payment (TIN 2.0) has been launched on the e-filing portal with two banks- Kotak Mahindra Bank and Federal Bank. Over 73,910 challans have been received through these banks till July 31st, 2022 totalling to Rs. 518.5 crore.
The e-filing Helpdesk team has assisted and resolved over 1.45 lakh queries this year till 31st July, 2022. Total calls answered in the last week of July, 2022 was 1,05,800 and maximum calls of 18,341 were received on 26th July, 2022. Helpdesk team also supported resolution of grievances received on the Twitter handle of the Department by proactively reaching out to the taxpayers/ stakeholders and assisting them with any issues, almost on a real-time basis.
The Department reiterates its gratitude for the support in timely compliances and requests all taxpayers to e-verify their ITRs at the earliest. The Department also urges taxpayers, who for any reason, missed the due date, to complete their filing immediately.
F.No.282/04/2022-IT (Inv.V), Pt. I/136
Ministry of Finance
(Department of Revenue)
(Central Board of Direct Taxes)
(Investigation Division-V)
Order authorizing 'Prescribed Authority' for the purpose of e-Verification Scheme, 2021
Dated: 20th July, 2022
In exercise of the powers conferred by clause (J) of sub-paragraph (1) of paragraph 2 of the e-Verification Scheme, 2021, the Central Board of Direct Taxes, hereby authorises the Director General of Income-tax, Directors of Income-tax, Additional Directors of Income-tax, Joint Directors of Income-tax, Deputy Directors of Income-tax, Assistant Directors of Income-tax, Income Tax Officers and Inspectors of Income-tax working in the Directorate of Income-tax (Intelligence and Criminal Investigation) as "Prescribed Authority" for the purposes of the said Scheme.
Krishna K Ramawat,
Under Secretary to the Government of India
FAQ’s on AIS (Annual In formation Statement)
Q-1 What is Annual Information Statement (AIS)? Ans.
Annual Information Statement (AIS) is comprehensive view of information for a taxpayer displayed in
Form 26AS. Taxpayer can provide feedback on information displayed in AIS. AIS shows both reported value and modified value (i.e. value after considering taxpayer feedback) under each section (i.e. TDS, SFT, Other information).
The objectives of AIS are:
• Display complete information to the taxpayer with a facility to capture online feedback
• Promote voluntary compliance and enable seamless prefilling of return
• Deter non-compliance
(“For more info. navigate to AIS under Services Menu after login”)
Q-2 What is the Difference between AIS and Form 26AS?
Ans. AIS is the extension of Form 26AS. Form 26AS displays details of property purchases, high-value investments, and TDS/TCS transactions carried out during the financial year. AIS additionally includes savings account interest, dividend, rent received, purchase and sale transactions of securities/immovable properties, foreign remittances, interest on deposits, GST turnover etc.
AIS also provides the taxpayer the option to give feedback on the transactions reported. Further, the aggregation of transactions on information source level is also reported in TIS.
(“For more info. navigate to AIS under Services Menu after login”)
Q-3 How can I view the Annual Information Statement?
Ans. You can access the Annual Information Statement functionality by following below mentioned steps:
Step 1: Login to URL https://www.incometax.gov.in/
Step 2: Click on “Annual Information Statement (AIS)” under “Services” tab from the e-filing portal after successful login on e-filing portal.
Step 3: Click on AIS tab, on the homepage.
Step 4: Select the relevant FY and click on AIS tile to view the Annual Information Statement.
(“For more info. navigate to AIS under Services Menu after login”. More details on AIS can be found in Annual Information Statement User Guide available in “Resources” section at AIS Homepage.)
Q-4 What are the components of Annual Information Statement (AIS)? Ans- The information shown on AIS is divided in two parts:
PART A- General Information
Part-A displays general information pertaining to you, including PAN, Masked Aadhar Number, Name of the Taxpayer, Date of Birth/ Incorporation/ Formation, mobile number, e-mail address and address of Taxpayer.
PART- B
• TDS/TCS Information: - Information related to tax deducted/collected at source is displayed here.
The Information code of the TDS/TCS, Information description and Information value is shown.
• SFT Information: - Under this head, information received from reporting entities under Statement of Financial transaction (SFT) is displayed. The SFT code, Information description and Information value is made available.
• Payment of Taxes: - Information relating to payment of taxes under different heads, such as Advance Tax and Self-Assessment Tax, is shown.
• Demand and Refund: -You will be able to view the details of the demand raised and refund initiated (AY and amount) during a financial year. (Details related to Demand will be released soon)
• Other Information: - Details of the information received from the other sources, such as data pertaining to Annexure II salary, Interest on refund, Outward Foreign Remittance/Purchase of Foreign Currency etc., is displayed here.
(“For more info. navigate to AIS under Services Menu after login”)
Q-5 What does “General information” part contains under AIS?
Ans- General information displays the general information pertaining to you, including PAN, Masked Aadhar Number, Name of the Taxpayer, Date of Birth/ Incorporation/ Formation, mobile number, e-mail address and address of Taxpayer.
(“For more info. navigate to AIS under Services Menu after login”)
Q-6 Can I track the Activity history in AIS?
Ans- Yes, you can track the activity history in AIS by clicking on the Activity history button on AIS homepage. You will be provided a summary view of activity performed on the AIS functionality. System generated Id (Activity ID) will be created for each performed activity, Activity date, Activity description and detail will be displayed under this tab.
(“For more info. navigate to AIS under Services Menu after login”)
Q-7 What does Taxpayer Information Summary (TIS) contain under AIS?
Ans. Taxpayer Information Summary (TIS) is an information category wise aggregated information summary for a taxpayer. It shows processed value (i.e. value generated after deduplication of information based on pre-defined rules) and derived value (i.e. value derived after considering the taxpayer feedback and processed value) under each information category (e.g. Salary, Interest, Dividend etc.). The derived information in TIS will be used for prefilling of return, if applicable.
You will be shown various details within the Taxpayer Information Summary such as,
• Information Category
• Processed Value
• Derived Value
Further, within an Information Category following information is shown:
• Part through which information received
• Information Description
• Information Source
• Amount Description
• Amount (Reported, Processed, Derived)
(“For more info. navigate to AIS under Services Menu after login”)
Q-8 In what all formats can I download my AIS?
Ans. You can download Annual Information Statement (AIS) in PDF, JSON, CSV file formats.
Q-9 How do I submit feedback on the information?
Ans. You can submit feedback on active information displayed under TDS/TCS Information, SFT Information or Other information by following below mentioned steps:
Step 1: Click on “Optional” button mentioned in the Feedback column for relevant information. You will be directed to ‘Add Feedback’ screen.
Step 2: Choose the relevant feedback option and enter the feedback details (dependent on feedback option).
Step 3: Click “Submit” to submit the feedback
(“For more info. navigate to AIS under Services Menu after login”)
Q-10 What will happen once I submit the feedback?
Ans. Upon successful submission of feedback on AIS information, the feedback will be displayed with the information and the modified value of the information will also be visible with the reported value. The activity history tab will also be updated, and you will be able to download Acknowledgement Receipt. Email and SMS confirmations for submission of feedback will also be sent.(“For more info. navigate to AIS under Services Menu after login”)
Q- 11 Is there any confirmation will be received on submission of AIS feedback?
Ans- Yes, after successful submission of your feedback on AIS information, the activity history tab will be updated, and you will be able to download Acknowledgement Receipt of the same. Email and SMS confirmations for submission of feedback will also be sent.
Q-12 What is AIS Consolidated Feedback file?
Ans. AIS Consolidated Feedback file (ACF) gives the taxpayers a facility to view all their AIS feedback (other than feedback, ‘Information is correct’) related information in one pdf for easy understanding. After submitting the feedback of the AIS, you can download the AIS consolidated feedback file (PDF). (“For more info. navigate to AIS under Services Menu after login”)
Q-13 Is there any limit on the number of times I can modify a given feedback?
Ans. Currently, there is no limit on the number of times you can modify previously given feedbacks.
Q-14 Can I verify the GST turnover in AIS?
Ans- Yes AIS does display the information related to GST turnover under information code (EXC-GSTR3B). The same would be visible in the Other Information tab in AIS.
Q-15 Is there any video tutorial available for AIS?
Ans- Yes, there is an informational video available on YouTube for AIS. This video can be accessed here - Basic information on Annual Information Statement functionality - YouTube