I-T dept planning to bring rural traders into tax net

The Income Tax department is looking at bringing rural traders and others into the tax net.

The department which is attempting to expand the taxpayer base in the country will now focus their attention on a large swathe of rural businesses that have so far remained untouched.

"We are planning to increase the taxpayers base. A number of taxpayers and assessees that the department would include will be from the rural areas," CBDT Member (Revenue) Durgesh Shankar told PTI.

There are a large number of people who do not pay tax.

Tax avoidance is a great worry and the department would strengthen the mechanism to include such assesses in the income tax fold, Shankar said.

The I-T department has found that the income generated from numerous kinds of businesses conducted in rural areas can be brought under the tax net.


Source : PTI News