Now, file tax returns on time or pay a fee

Unnecessary queries and delays in refund likely to reduce

From the next financial year, 2017-18, it will get tougher for taxpayers to avoid filing returns. But at the same time, unnecessary queries in case of a tax notice and endless waiting in case of appeals may soon come to an end. The Union Budget 2017-18 has provisions that seek to promote compliance while making things easier for those who comply.
 
Fee for delay in filing returns: Currently, if a taxpayer does not file returns on time there is a penalty. The penalty is discretionary and payable post facto, that is, after you have filed returns. It is also