I-T dept asks defaulters to clear tax dues by March 31 or face penal action

The finance ministry’s revenue department has asked all the tax defaulters to immediately pay the due taxes before the end of this month, March 31, or face penal action. A statement released by the finance ministry said that there were a total of 73,388 self-assessment tax defaulters, who owed Rs 3,859 crore to the tax department. The statement added that taxpayers who would file a return without paying the admitted sum of payable tax would be considered as an assessee in default under the provisions of the I-T Act. read more

The finance ministry’s revenue department has asked all the tax defaulters to immediately pay the due taxes before the end of this month, March 31, or face penal action. A statement released by the finance ministry said that there were a total of 73,388 self-assessment tax defaulters, who owed Rs 3,859 crore to the tax department. The statement added that taxpayers who would file a return without paying the admitted sum of payable tax would be considered as an assessee in default under the provisions of the I-T Act. read more

[via Stock Watch – Stock Specific News]

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