Notices served for undisclosed FDs

Sushant Ranjan
Friday, 28 July 2017

“I served the Central government for 35 years and I had not received any notices from the I-T department. Now, I got a notice which said that I have not disclosed my fixed deposit. I am here to give an explanation to them,” said a 64-year-old resident on condition of anonymity.

Pune: With days to go for the deadline to file income tax returns (ITR), the Income Tax office is now witnessing five to ten persons visiting the office every day as they have been served notices by the department for not disclosing their fixed deposit income. 

The Income Tax Department’s CPC (Central Processing Centre) has sent out notices to a number of individuals stating that the details provided by them in their ITR is incorrect and needs to be adjusted. The notices have been sent to around 10,000 citizens, mostly retired government officers, on their fixed deposits in banks which are not mentioned in ITR.

The CPC is the central database centre of the department which receives all ITRs, both e-filed and sent through the post and processes them for the issuance of refunds and also deals with other tax-related documents of a taxpayer. Many Central or State government retired employees visiting the I-T office at Swargate, were served notices from the department as they have not disclosed their fixed deposits in public sector banks. 

“I served the Central government for 35 years and I had not received any notices from the I-T department. Now, I got a notice which said that I have not disclosed my fixed deposit. I am here to give an explanation to them,” said a 64-year-old resident on condition of anonymity.

Another 72-year-old former Central government employee who served in Defence accounts department said on condition of anonymity, “Fifteen years ago I invested a part of the amount which I received after my retirement in fixed deposit. Recently, I received a notice from the department as I didn’t  know that I was supposed to declare this amount as well.”

“Notices have been sent to taxpayers who have claimed investments under Section 80C or HRA that are not mentioned in their Form 16. The people having incomes from saving bank’s account interest, income from fixed deposits or house property- some other income sources not included in Form 16 have also been served these notices,” said a senior official of I-T Department.

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