2024-04-03 11:44:45
New Delhi: Generally people do not take income tax returns seriously. But doing so may prove costly for you. A Delhi woman has been sentenced to six months in jail for not filing income tax returns. According to media reports, the court sentenced the woman to six months in jail on the complaint of the Income Tax Office. ITO had said in its complaint that the woman did not file income tax return on annual income of Rs 2 crore. The woman had received Rs 2 crore in 2013-14 and TDS of Rs 2 lakh was also deducted on it. But return was not filed on this income. The court sentenced the woman named Savitri to six months in jail and also imposed a fine of Rs 5,000. If the fine amount is not paid, the punishment will be extended by one month. The court said that the ITO had sent notices to the woman but she did not file any return on her income. The court held the woman guilty of not filing income tax return for assessment year 2014-15 under section 276CC of the Income Tax Act. Savitri’s lawyer argued that his client was not educated and her husband had also died. Besides, there is no one to take care of them. After this, the court granted him bail for 30 days so that he could challenge this decision.
ITR: People’s awareness increased, it also increased along with tax collection.
What is ITR?
According to the Income Tax Act, 1961, if a person is below 60 years of age and his annual income exceeds the exemption limit, then he will have to file ITR. ITR i.e. Income Tax Return is a tax return form used by taxpayers to report their income and assets to the Indian Income Tax Department. It contains details related to personal and financial data of tax paying people. ITR is mostly filed in electronic mode but for senior citizens there is an option to file it manually also.