Taxpayers take note! Income Tax department recovers Rs 37,000 crore from individuals not filing returns despite taxable income

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Times of India 6h ago

Taxpayers take note! Income Tax department recovers Rs 37,000 crore from individuals not filing returns despite taxable income - Times of India

Quick Summary:

The Income Tax Department has recovered Rs 37,000 crore over the past 20 months from individuals who failed to file returns despite significant spending.

Officials used data analytics and transaction records like luxury purchases to identify non-compliant taxpayers.

With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.