Penalty for not Filing ITR

By Vishal Vivek Learn more

A person's earnings for a fiscal year are detailed in an income tax return, which is a condensed document.

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You must submit an income tax return (ITR) to the government. Your income, investments, and amount of owed taxes are disclosed to the government in this return.

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– If you want to work on any government projects, your most recent income tax returns are an essential source of information. Regular ITR filing entitles you to offer applications.

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It is a prerequisite for acquiring loans, visas, and other financial services as well as a legal requirement. ITR failure can have serious repercussions

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The concerned person may be prosecuted for tax evasion under Section 276CC of the Income Tax Act if the ITR is not filed even after taking these steps.

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