The government today asked tax evaders either disclose their correct income and pay advance tax by December 15 or be
prepared to face action. Speaking to reporters in New Delhi, Revenue Secretary Sumit Bose urged all assessees to disclose their true income. Mr Bose said, there is no advantage in suppressing the true income or avoiding paying income tax that is due. However, Mr Bose regretted that there was gross-understatement in filing of advance tax by assessees. The secretary said, sooner than later, the information available with the income tax department will lead the department to the doors of such persons.
Mr Bose said that during assessment year 2012-13, only 14.62
lakh assessees including professionals and companies have declared their taxable income of over 10 lakh rupees and added that any fair minded person will agree that this is a gross under statement. AIR correspondent reports that, the direct tax collection during April-October worked outto be over 3 lakh crore rupees , showing an increase of 6.59 per cent as against the annnual growth target of 15 per cent. The government proposes to collect 5.70 lakh crore rupees from direct taxes, which include income tax, corporate tax and wealth tax, this fiscal.