Directors who frequently change the names and addresses of companies in order to evade tax will now become answerable for their actions. The income tax department is identifying directors of such companies, and will make them pay up the tax dues even if they are not attached to the company any more. This development took place after finance minister Pranab Mukherjee asked income tax (I-T) officials to explore the possibility of recovery in cases of tax defaulters having no assets and where the assessees are not traceable. Mukherjee had a review meeting on direct tax collection with senior I-T officials in Mumbai on Saturday.
Source : Hindustan Times
No comments:
Post a Comment