The income tax authorities have warned that they have information about 12 lakh people who have not filed their income tax returns.
The Income Tax Department will soon send out letters to nearlyt 35,000 such individuals.This is the second such warning from the Finance Ministry, which is under pressure to raise income tax collections in order to meet the fiscal deficit target of 5.3 per cent of the GDP (Gross Domestic Production) .
While the personal income tax collection has risen 13.8 per cent to Rs. 1,57,913 crore in the first nine months of 2012-13, it is still below the target set in the Budget 2012-13.
The letters sent to PAN card holders contain the summary of financial transactions, along with a customised response sheet, and seeks to know whether the person had filed his / her income tax return or / not.
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