Income tax Dept set to revoke their PAN Cards, LPG Subsidy

Income Tax Department has decided to take some aggressive steps against some willful defaulters. To start with, IT Dept. will block their PAN Cards, block their LPG subsidies and stop them from purchasing any property, as PAN card is required for such high transactions.

A special action plan has been created by the IT Dept, which states “It is suggested that after due notice, PAN of such defaulters should be blocked in our system, in such a way that these defaulters should not be allowed to file their return of income, which means that they cannot avail the benefit of carry forward of business loss and losses under other heads where filing of return of income u/s 139(1) is mandatory,”

Some of the steps which IT Dept. may take in coming days against tax defaulters include:

• IT Dept will share the names of such wilful tax defaulters with Credit Information Bureau (India) Ltd (CIBIL) so that they don’t get approval for loans and over-draft facility

• IT Dept. and CIBIL will share their databases to get access to such defaulters.

• Various types of subsidies such as LPG etc are directed linked with PAN Card, which would be completely blocked for such defaulters

• The list of wilful defaulters shall be shared with Registrar of Properties so that they are unable to purchase or sell any immovable property