Updated By: LatestGKGS Desk
IT department to take action for not filing income tax return
Income Tax department to send notice to those who exchanged huge amount 2014 and did not file income tax return in 2015
The Income Tax Department has identified 67,54,000 people who have exchanged hige amount in the year 2014-15 and did not file income tax return in 2015-16.
The Income Tax is preparing to take action against these people soon by the information collected from various banks and financial institutions.
Income Tax Department to send the notices and ask to show the account of huge amount
The Central Board of Direct Taxes has investigated the figures and came to know the people who have not filed Income Tax return.
The investigation is done under Non-Filers Monitoring System which has given database regarding people not filed income tax return.
Non-Filers Monitoring System is a database which investigates the people who have not filed income tax return and have possibility to collect income tax from them.
The Income Tax Department will send notice to these people can ask to give the account of the amount and file tax.
