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Delay In Filing Income Tax Return To Attract Fine

Delay In Filing Income Tax Return To Attract Fine

Thursday, February 2, 2017, 10:56 AM

Taxpayers who delay to file their Income Tax Returns (ITRs) will have to pay penalty up to Rs. 10,000, from the 2018-19 Assessment Year (AY). The memorandum said the decision was being taken "in view of the non-intrusive information-driven approach for improving tax compliance and effective utilization of information in tax administration, it is important that the returns are filed within the due dates."
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