In a bid to meet stiff revenue targets amid sluggish growth, the income tax (I-T) department has reportedly initiated prosecution proceedings against a large number of individuals and business entities for not filing tax returns and for delaying remittance of tax deducted at source (TDS).
This is probably the first time that prosecution proceedings, which was primarily used against wilful tax evaders, have been initiated for such charges.
"A list of 8,000-odd non-filers (of tax return) with a past record of earnings has been compiled (by the tax department). Many in that list have been issued prosecution notices,"
This is probably the first time that prosecution proceedings, which was primarily used against wilful tax evaders, have been initiated for such charges.
"A list of 8,000-odd non-filers (of tax return) with a past record of earnings has been compiled (by the tax department). Many in that list have been issued prosecution notices,"