Income tax return: Hiding income is legally wrong, it is considered tax evasion. Not filing ITR (ITR rules) is also hiding income. Therefore, not filing an ITR can lead to a jail sentence. If any taxpayer deliberately hides income and does not pay tax according to annual income, then the department (income tax department) can take strict action. Recently, a lot of changes have also been made to the tax rules. There is also a provision of many sections in the Income Tax Act regarding ITR, known in detail in the news.

Deposit TDS on time-

There are many rules (TDS rules) regarding TDS. A delay in depositing it is not acceptable. Action is taken against the delayer like section 276B of the Income Tax Act. The Income Tax Department also has the right to file a case in court. After this, after the decision of the court, you may have to pay interest and penalty along with TDS. Not only this, you can be sentenced to jail. Therefore, deposit TDS on time.

Action on tax evasion -

If someone deliberately evades income tax, then a provision for punishment has also been made in the Income Tax Act. However, there are also efforts from the government to make some more arrangements so that people do not have to go to court in cases related to ITR (ITR new rules).

If someone deliberately hides income and does not deposit tax according to annual income, then it is counted in the category of crime. In such a situation, the taxpayer is fined under section 276 C of the Income Tax Act. Apart from this, jail can also be done.

What will happen if ITR is not filled or delayed -

It is right to fill ITR on time. According to the rules of the department, if there is a delay in filing it or if ITR is not filed then the taxpayer is fined under section 276 CC of the Income Tax Act 1961.

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