Income tax department has sent notices to more than 100 companies in non-corporate sector who did not pay advance tax as compared to their revenue in the last financial year. The department has thus warned the company owners to better be careful now and deposit the first instalment of advance tax by September 15 or pay it with interest later. It needs to be mentioned that the companies had filed I-T return last year by self-assessment at the end of the financial year instead of paying advance tax in three equal instalments. After making comparative data, the department came to know about anomalies of the companies and the wide difference between the income and tax compliance. So notices have been sent this year and if the tax filed this year turns out to be less than last year, the companies will have to explain the reason for the same, confirmed sources.
Source : http://www.indianexpress.com/news/advance-tax-evaders-to-get-it-notice/844311/
No comments:
Post a Comment