Only 10% of the Permanent Account Number (PAN) holders in the Tiruchi region were found to be filing Income Tax returns, according to T. Vasanthan, Principal Commissioner of Income Tax, Madurai -1. He highlighted this concerning statistic at an outreach programme for taxpayers in Tiruchi. Out of approximately 30.74 lakh PAN holders in the region, only 3.09 lakh individuals were fulfilling their obligation to file IT returns.
Emphasizing the faith the Income Tax Department has in taxpayers, Mr. Vasanthan mentioned that only 0.25% of the returns are currently under scrutiny, with the remaining 99.75% being accepted as submitted. He urged people to step forward and fulfill their responsibility of filing tax returns.
Furthermore, Mr. Vasanthan pointed out that during 2023-24, the direct tax collection growth rate in the country was 18%, while in the Madurai and Tiruchi region, it was notably lower at 0.98%. Encouraging those liable to pay taxes to contribute to the nation’s growth, he expressed the need for tax remittance.
J. Bhuvaneswari, Joint Commissioner of Income Tax, Tiruchi Range, also addressed the event, delivering a presentation on the significance of voluntary tax compliance, the latest initiatives by the Central Board of Direct Taxes, and the evolving role and responsibilities of taxpayers in the digital era.
The meeting saw participation from representatives of various industry and trade associations, as well as taxpayers from Tiruchi, Karur, Perambalur, and Ariyalur, as per a communication from the Income Tax Department.