I-T turns up the heat

A CBDT press release said the I-T department had conducted its fifth cycle of data matching, which identified an additional 67.54 lakh people. The I-T department is cracking the whip on 68 lakh people who had carried out high-value transactions in 2014-15 but did not file I-T returns for the relevant assessment year, i.e. 2015-16. The department is in the process of sending notices to these non-filers to account for their transactions and pay taxes as applicable. Non-filers can access details of their transactions by logging on to the e-filing portal with their PAN, the CBDT said.The PAN holder will be able to respond electronically and retain a copy of the submitted response.

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