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Tax evasion - Rewards to informers capped at Rs 15 lakh

By TIOL News Service

NEW DELHI, APR 30, 2016: THE guidelines with regard to the rewards on offer to informers of tax evasion are in place. Details of the same are as follows:

Direct Taxes: When on account of the information provided by a person with regard to evasion of direct taxes results in detection of undisclosed income and/or seizure of undisclosed cash, valuables resulting in levy and collection of extra income tax, such person is entitled to receive reward as per "Guidelines for grant of rewards to informants, 2007" introduced w.e.f 1 st December, 2007. The Competent Authority may, as per the guidelines, offer a reward not exceeding 10% of the extra income-tax and wealth-tax levied and actually realized, subject to a ceiling of Rs. 15 lakh provided the aforesaid taxes are directly attributable to the information, including documents, supplied by the informant. Applicability of the monetary ceiling as aforesaid shall be in respect of a group of cases and not for the individual assessees of the Group.

Indirect Taxes: Fresh reward guidelines was also issued by Central Board of Excise and Customs (CBEC) vide Circular No. 20/2015 dated 31.07.2015 for the Government servants and informers so as to get information about tax evasion.

The system maintains privacy and confidentiality of informers in all circumstances, so as to give an impetus to potential informers and also to prevent scaring them away.

Mr. Jayant Sinha, Minister of State in the Ministry of Finance informed that same in written reply to a question raised in Lok Sabha yesterday.


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