Cash seizures during assembly elections have substantially increased, according to CBDT Chairman Nitin Gupta. The Income-tax department is investigating these cases, along with other instances of unaccounted currency and jewellery being unearthed during raids. The Election Commission has also noted a surge in the seizure of cash and illegal inducements during state polls.
The assesses were grappling with this issue of long outstanding demands, especially in cases where the demands pertain to very old cases and there are neither records nor resources available, to resolve the same.
Central Board of Direct Taxes (CBDT) chairman Nitin Gupta said that the department will be sending notices to only those taxpayers for which it had definitive information.
The tax department is seeking details of Legal Entity Identifier (LEI); any contributions made to political parties, including the date and mode of payment; and information on any deductions claimed for the maintenance, including medical treatment, of a dependent who is a person with disability.
The Income Tax department has notified that taxpayers with earnings more than Rs 50 lakh or have more than one house need to share extra information when they file their tax returns for this fiscal.