Non-filers can submit Income Tax Returns within 21 Days:
Important Points to Remember:
The Central Board of Direct Taxes (CBDT) last day has informed that the non-filers can submit the income tax returns within 21 days. Non-compliance after this period would also lead to proceedings under the Income Tax Act, 1961.
A statement issued by the department has revealed that the Data analysis has identified several potential non-filers who have carried-out high-value transactions in Financial Year 2017-18 but have still not filed Income Tax Return for Assessment Year 2018-19 (relating to FY 2017-18).
The following are the important points to remember by the Non-ITR files The information about the non-filers was gathered from the database of the Income Tax Department. As per the press release issued by the Ministry, the non-filers are requested to assess their tax liability for the assessment year 2018-19 and file the ITR or submit an online response within 21 days. “If the explanation offered is found to be satisfactory, matters will be closed online. However, in cases where no return is filed or no response is received, initiation of proceedings under the Income Tax Act, 1961 will be considered,” it added.
There is no need to submit the response by visiting the income tax office since the entire process can be completed online. Taxpayers can access the information related to their case from the compliance portal’ accessible through the e-filing portal- incometaxindiaefiling.Gov.In
CA Lalit Gandhi
Sudheendra & Co LLP