Documents reveal huge evasion of tax, undisclosed investments
To initiate action against several doctors shortly
Mohinder Verma
JAMMU, Mar 25: Going ahead with its drive against the habitual tax evaders, the Income Tax Department today carried out surveys in the premises of several prominent diagnostic centres and pharmaceutical distributor and laid hands on several documents indicating concealment of profits.
More such surveys are likely in the coming days as Income Tax Department sleuths found vital information about several persons particularly renowned doctors who are hand in glove with these diagnostic centres in cheating the taxmen by way of concealing their exact income.
Official sources told EXCELSIOR that during the past quite long time senior officers of the Income Tax Department J&K Circle were minutely scrutinizing the Income Tax returns of owners and partners of prominent diagnostic centres and pharmaceutical distributors of past many years.
During the detailed exercise it came to the fore that though business of prominent diagnostic centres and pharmaceutical distributors was on continuous rise during the past many years yet there was no commensurate increase in payment of the income tax.
Further, the department came to know from different sources that owners and partners of several diagnostic centres have even purchased properties worth several crores of rupees in the posh localities of Jammu but investment was never reflected while filing the Income Tax returns, sources informed.
Accordingly, it was decided to tighten noose around such habitual tax evaders so as to break their myth that they would continue to dodge the Income Tax Department and raise assets by reflecting low profits in the returns.
Giving practical shape to this decision, the sleuths of Income Tax Department today carried out simultaneous surveys in Gem Eye Centre at Nai Basti, Nidan Diagnostic Centre at Gandhi Nagar, Janta Medical Hall at City Chowk, Gennext Diagnostic Centre Opposite Government Women College Gandhi Nagar and Atulya Diagnostic Centre near KC Multiplex at Bakshi Nagar.
From all these establishments, the taxmen recovered large number of incriminating documents, the preliminary scrutiny of which revealed that payment of income tax as per the exact profits never remained the priority of their owners and partners, sources said, adding “the income tax returns of past many years reflect that these establishments were making only meagre profits but the taxmen were shocked to know the real figures of the profits from the impounded documents”.
Even the investments made in the surveyed diagnostic centres were far away from the tax being paid by them during the past many years, sources further revealed, adding “by indulging in evasion of tax on large scale the owners and partners of these establishments have raised huge assets in the shape of palatial residential houses and other commercial complexes”.
Quoting some examples, sources said, “owner of one of these diagnostic centres has purchased property worth several crores of rupees in Green Belt Park area of the Gandhi Nagar but its cost has been grossly undervalued to evade tax”, adding “owner of another diagnostic centre has reflected huge property as gift-deed although he has purchased the same at a cost of over Rs 5 crore”.
During the preliminary scrutiny of the impounded documents, the Income Tax Department also came to know that all these diagnostic centres were paying hefty amount as ‘commission’ to the doctors for referring patients to them and the money being received as ‘commission’ was never reflected by such doctors in their annual income tax returns.
Stating that more such surveys are likely in the coming days, sources said, “Income Tax Department sleuths have found vital information about several persons particularly renowned doctors who are hand in glove with these diagnostic centres in evasion of tax”, adding “if the doctors fail to revise their returns or pay taxes as per their exact income they will also be targeted in the coming days”.
“More diagnostic centres and pharmaceutical distributors are on the radar of the taxmen and noose around them will also be tightened”, they further said, adding “the drive will also be extended to other districts as similar practice is also going on there also”.
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