Chennai

‘Tamil Nadu had highest number of Income Tax assessment errors in FY18’

Tamil Nadu had the highest percentage of Income Tax assessments with errors, with a revenue effect of ₹1,644.16 crore during FY 2017-18, according to the Comptroller and Auditor General of India’s (CAG) report tabled in Parliament.

The report on direct taxes for the year ended March 2018, pointed out the details of ten States with the highest incidence of assessments with errors, where more than 10,000 assessments were checked.

Tamil Nadu had 1,914 cases with errors and at 8.71%, the highest percentage of assessments with errors, followed by Madhya Pradesh (8.62%), the CAG noted in the report tabled in Parliament on July 30.

The Income Tax Department needs to take corrective action in respect of errors noticed in the assessments, it also said.

The CAG also noticed irregularities related to incorrect allowance of ineligible claims of business expenditure as exemption.

During 2017-18, irregularities on this account were found to be highest in Maharashtra (60%) and Tamil Nadu (28%), it said.

The CAG also pointed out that during FY2017-18, 2,739 cases, with tax effect of ₹2,735.17 crore, became time-barred for remedial action. Out of it, Odisha alone accounted for 34.57%, followed by Tamil Nadu at 28.51%.

Tamil Nadu had 288 time-barred accounts with a value of ₹779.83 crore, it said.

“The Department should ensure that remedial action is taken in time so that such incidences do not recur,” the CAG said.

Article source: https://www.thehindu.com/news/cities/chennai/tamil-nadu-had-highest-number-of-income-tax-assessment-errors-in-fy18/article28777255.ece

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