Face jail and pay fine, if you have not filed income tax returns

Those defaulting in filing income tax returns are liable to prosecution, the I-T department has said.  If the tax evaded exceeds Rs 25 lakh, the defaulter can be sentenced to a minimum imprisonment of six months and maximum of seven years, besides being asked to pay a fine. If the tax evasion amount is less than Rs 25 lakh, the imprisonment could range between three months to two years in addition to fine. Recently, the additional chief metropolitan magistrate, New Delhi, sentenced a taxpayer to six months’ imprisonment in one assessment year and one year imprisonment in subsequent assessment year for repeating the offense of not filing income tax returns. At Taxmantra.com, we provide one-to-one Personalized Income Tax return Filing Services to help tax payers in addressing their tax issues and also in filing of their income tax returns. You can look to visit our Online ITR Filing Page.   You can also call us at +918820820811 & Press (1) to avail this service or send an email at – “info@taxmantra.com”