Income Tax Compliances

Tax compliance. Degree to which a taxpayer complies (or fails to comply) with thetax rules of his country, for example by declaring income, filing a return, and paying the tax due in a timely manner.

From current assessment year (AY) 2017-18, rules related to filing of belated income tax returns (ITRs) have changed. ... The income-tax department is proactively sending intimations and reminders to income tax assessees to do the needful. Thus, this 31 March is the last day to file a belated ITR for AY 2016-17.

It is possible that in a certain year you do not have income exceeding the threshold limit of taxable income. In such an instance, it is not mandatory to file a tax return. However, it is always advisable to file a return even if the income does not exceed the taxable income. This is because the Income Tax Department can issue a notice under section 143(2) of the income tax act, in case of non-compliance. In this article, we will learn about how to respond to a notice issued for not filing your returns.