Question : TAX EVASION BY BROKERS

(a) whether the Income Tax authorities have conducted surveys on stock brokers and other professionals and found that many of them in the country are evading taxesto the tune of crores of rupees;

(b) if so, the details of the survey conducted by the IT authorities;

(c) whether the Government have any proposal to make the tax evasion laws morestringent to check tax evasion;

(d) if so, the details in this regard; and

(e) the details of action plan drawn up to clear the pending cases of tax arrears during 2000-2001?

MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI V. DHANANJAYA KUMAR)
(a) & (b): During the financial year 1999-2000 (upto 28/2/2000), the income tax authorities have conducted 28 surveys in the cases of stock brokers and 49 in the cases of other professionals which have resulted in disclosure of additional income to the tune of Rs.144.20 crores and Rs. 6.74 crores respectively.
(c) & (d): At present, the Government has no such proposal to make the tax evasion laws more stringent.
(e) : No specific action plan is prepared except periodic review and measures taken for speedy disposal of the cases pertaining to arrears of tax.