The following steps are
being taken by the Ministry to mobilize resources to increase tax collection in
order to reduce fiscal deficit:-
Monitoring of Advance Tax payment especially by top
taxpayers; Emphasis is also given to monitor Advance tax payers that have to
pay Alternate Minimum Tax applicable from the Financial Year;
Conducting surveys for detection of concealment of
income and for compliance of TDS provisions.
Detection of new areas of violation/avoidance of the provisions of TDS
and taking action for proper deduction and deposit of TDS;
Organizing training programs for senior management as
well as for DDOs (particularly of Government departments and PSUs) to spreading
awareness about TDS &TCS provisions;
Emphasis on collection out of arrear demand and
monitoring of high default cases;
Detailed strategy for making quality assessment has
also been devised;
Cross-verification of data collected through Annual
Information Return with the return of income and issuance of notices in suitable
cases. Using the data collected through
Transaction statements for better quality assessments as well as recovery of
Multi-media campaign to encourage voluntary compliance
of tax laws.
To broaden the tax base and limit exemptions, negative
list based comprehensive approach to service tax has been introduced with
effect from the 1st July, 2012.
From 1st of October, 2012, service tax on
transport of goods and passengers (in air-conditioned class and first class) by
rail has been brought into effect.
In addition, other steps including monitoring of
revenue, strengthening of anti-evasion and audit mechanism, conduct of targeted
audits and search operations, adjudication of pending show cause cum demand
notices, realization of arrears, steps to curb undervaluation of import, disposal
of confiscated bullion and precious stones, administrative steps like
redeployment of human power to service tax field formations which have more potential
for augmentation of revenue.
This was stated by the
Minister of State for Finance, Shri Namo Narain Meena in written reply
to a question in the Rajya Sabha today.
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