The I-T sleuths have gathered sufficient information on large spenders and intended to use it to track those not paying taxes or not filing returns, Finance Minister P Chidambaram has said.





If you have transacted or made cash deposits of Rs 10 lakh or more in the last financial year, made credit card payments aggregating over Rs 2 lakh, running monthly mobile phone bills of over Rs 1,000, then you are in the Tax Department database which will be used to catch those who do not pay taxes or have stopped filing returns, says Chidambaram.



The message is clear from the FM: the best way to celebrate Diwali is file your I-T returns, and for the non-salaried class - don’t miss the Oct 31 deadline.



Source - Business Standard