Brief by Shorts91NewsDesk / 08:21am on 26 Feb 2025,Wednesday Business
The Income Tax Department is set to initiate a nationwide crackdown on 40,000 taxpayers for failing to deposit TDS/TCS. A 16-point strategy, utilizing data analytics, will be employed to identify and investigate defaulters, focusing on recurring offenders and discrepancies between tax deductions and payments. Non-intrusive methods will be used, beginning with notifications to taxpayers who may have missed payments. The effort aims to create a fairer tax system by taking strict action against willful defaulters, while offering compliance relief for honest taxpayers. This initiative follows the simplification of TDS rates in the recent Union Budget.
