The Ministry said this is an indication of widening tax base following various reform measures. There has been a 295 percent increase in ITRs filed by individual taxpayers with gross total income of five lakh rupees to 10 lakh rupees from 2013-14 to 2021-22. The income Tax department had released the Time Series Data of Direct Taxes and Income Tax Return statistics from time to time in various tranches. Data indicates increase in net direct tax collections from 6.38 lakh crore rupees in 2013-14 to 16.61 lakh crores in 2022-23.

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During the search unexplained cash of around Rs. 69 lakh and jewellery of around Rs. 82 lakh have been seized till now. Besides, 18 bank lockers have been found and placed under restraint. A large number of incriminating documents and digital data in mobile phones, pen-drives and computers have also been found and seized.

The group had around 96 companies at a few common addresses, which were being used for routing money and for land holding. Most of the companies are found to have no real business and very few returns of income have been filed. Many have not filed returns with ROC. Some directors of these concerns, other than main family members, have accepted to be dummy directors with mere signing roles.

Innovative methods of tax evasion by increasing the cost of properties through intra-group transactions, on which tax is not paid, have been noticed. Substantial evidences of transactions outside the regular books of accounts, unaccounted cash expenses, and cash advances received and interest paid in cash have been found. Evidences of on-money transactions and corresponding unaccounted investments of about Rs. 100 crore in real estate projects-flats, shops and land deals have been found.

A large number of documents relating to properties, held in the names of several cooperative societies, have been found from a secret location. The real owners of these land holdings are being investigated and applicability of the Prohibition of Benami Property Transactions Act, 1988 is also being examined. Registered and notarized sale-purchase agreements of agricultural lands with substantial cash component have also been found. At one of the premises, evidences pertaining to unaccounted property transactions uptoRs. 150 crore have been found.

Further investigations are in progress.

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The Central Board of Direct Taxes (CBDT) through a notification also extended the time limit for making various investments and claiming deductions under the I-T Act for the 2019-20 fiscal by a month till July 31, 2020.

The time for filing of original as well as revised income-tax returns for the FY 2018-19 (AY 2019-20) has been extended to 31st July, 2020.

Due date for income tax return for the FY 2019-20 (AY 2020-21) has been extended to 30th November, 2020. Hence, the returns of income which are required to be filed by 31st July, 2020 and 31st October, 2020 can be filed upto 30th November, 2020. Consequently, the date for furnishing tax audit report has also been extended to 31st October, 2020.

The date for payment of self-assessment tax in the case of a taxpayer whose self-assessment tax liability is up to ₹1 lakh has also been extended to 30th November, 2020. However, it is clarified that there will be no extension of date for the payment of self-assessment tax for the taxpayers having self-assessment tax liability exceeding Rs. 1 lakh. In this case, the whole of the self-assessment tax shall be payable by the due dates specified in the Income-tax Act, 1961 (IT Act) and delayed payment would attract interest under section 234A of the IT Act.

The date for making various investment/ payment for claiming deduction under Chapter-VIA-B of the IT Act which includes section 80C (LIC, PPF, NSC etc.), 80D (Mediclaim), 80G (Donations) etc has also been further extended to 31st July, 2020. Hence the investment/ payment can be made upto 31st July, 2020 for claiming the deduction under these sections for FY 2019-20.

The date for making investment/ construction/ purchase for claiming roll over benefit/ deduction in respect of capital gains under sections 54 to 54GB of the IT Act has also been further extended to 30th September, 2020. Therefore, the investment/ construction/ purchase made up to 30th September, 2020 shall be eligible for claiming deduction from capital gains.

The date for commencement of operation for the SEZ units for claiming deduction under section 10AA of the IT Act has also been further extended to 30th September, 2020 for the units which received necessary approval by 31st March, 2020.

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