I-T dept asks Church to submit details of accounts

Panaji: Amidst the demonetization of 500 and 1000 notes, Income Tax (I-T) department, Mangaluru, has sought details of accounts of various institutions which come under the Archdiocese of Goa.

Assistant commissioner of income tax (exemptions), Mangaluru, C B Suresh Kumarhas sent a letter to the financial reorganization fund of the Archdiocese of Goa and central fund of Archdiocese of Goa and Daman to submit information regarding the cash balance with its institutions.

“The central board and direct taxation (CBDT) has directed to collect urgently information regarding cash balance with trust/society etc. Hence, you are required to furnish the details of the cash balance by your trust as well as all institutions and branches under your trust as on November 8, 2016,” Kumar said in the letter.

The letter further stated, “You are also required to furnish self-attested copy of the closing entry of the cash book as on November 8, 2016, including a photocopy of the cash book along with the declaration should be submitted to this office by return post and balance as on March 31, 2016′.

“As the matter is of utmost concern, scanned copies of relevant pages of cash book and declaration should be emailed to this office by November 21, 2016,” Kumar added. The notice was received on November 21.

IT department said that the Archdiocese of Goa is also required to declare the number of notes of the demonetized denominations of 500 and 1,000 held by it as on the day of November 8, 2016.

IT department made the request under Section 133(6) of the Income Tax Act. “Any failure or delay in furnishing the information will resulted in penalty proceedings without further notice,” Kumar added. Speaking to TOI, a priest of the Archdiocese of Goa said that they received the notice on November 21, which was the date they were asked to furnish the information.

“It’s not possible for us to submit the information within such a quick time as we have almost 100 institutions. We will seek time to furnish the details,” he said, adding that the archdiocese will provide all information as requested by the I-T department.

Source: http://timesofindia.indiatimes.com/

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