I-T dept to act tough with non-filers, issues notices
The income tax department has pulled up its socks and is busy in issuing notices to people who have not filed their tax returns before the prescribed time limit.punjab Updated: Nov 03, 2014 15:49 IST
The income tax department has pulled up its socks and is busy in issuing notices to people who have not filed their tax returns before the prescribed time limit.
According to the officials, all non-filers will be penalised `5,000, apart from collecting tax amount from them for their lackadaisical attitude.
Jatinder Khurana, Taxation Bar Association general secretary said, “In an attempt to discourage the ill-practice of tax evasions and to deter the taxpayers, the income tax department will be issuing notices to all the defaulters.”
With the department issuing thousands of notices, a sense of panic prevailed among taxpayers in the city, as the top officials are also considering cases of last two years.
Khurana added that a rate of interest will also be charged from all taxpayers who have not paid their taxes for their taxable income in the previous years.
These notices are issued on yearly-basis but this time with system being online, entire process is streamlined and fast.
The move, where on one hand would help in curbing illegalities pertaining to tax, on the other hand, generate and aid in achieving revenue targets.