IT dept gathering data to cross check returns filed

Bangalore, Mar 13 (UNI) Chief Commissioner of Income Tax, Bangalore, I Manju Madhavan today said the IT department was gathering a lot of relevant information on the investment and expenditure of assessees to cross check with the returns filed.

In a meeting on 'Importance of Voluntary Compliance in view of the Information Gathered Under the Annual Information Return,' organised by the Federation of Karnataka Chamber of Commerce and Industry here, she said the department urged the tax payers to sensitise themselves about these issues.

''It is in the best interest of everyone that we declare our correct income and pay the taxes accordingly,'' the official said.

Dr Madhavan gave a detailed presentation on tax administration and new moves to ensure that every individual contributed to nation building.

UNI SIV GD RKN1908