Tax dept to share ITR data with GSTN to detect tax evasion by business persons – The Economic Times

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  • By Taxmann
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  • Last Updated on 28 October, 2020
April 30, 2019
Chartered Accountant, Naveen Wadhwa, DGM, says:

Chartered Accountant, Naveen Wadhwa, DGM, says, “In earlier years, mismatch in the figures of turnovers furnished by SMEs in Income-tax returns and Sales returns were very common. Signing of an MOU between the I-T Dept. and GSTN will ensure that the taxpayers furnish same set of information in income-tax return and GST return. As more than 38% Income-tax returns filled for the FY 2017-18 include business income, such initiatives to reconcile the turnover of business would help the government to check the tax evasion.”

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