Not filing your income tax returns on time? You could be prosecuted

If you have not filed your returns, and there's a notice, ensure that you respond to the notice in time. Failure to respond to the notice can have consequences

Not filing your income tax returns can lead to prosecution, even if you are entitled to a refund. In a recent decision, the Delhi High Court (HC) held the prosecution proceeding stands committed upon non-filing of income tax return within the prescribed due date under section 139 (1) of the Income-Tax Act.  

An individual taxpayer had failed to file his income tax return for the Assessment Year (AY) 2003-04 to 2005-06 within the time stipulated under section 139 (1) of the Act.  

In addition, he failed to abide by the notices issued under Section 142 (1) (requiring a