Income tax department has warned the assessee to pay the taxes basis of self-assessment and clear any dues pending by 31 March 2013. Department gives the figure as 3859 crore rupees of self-assessment tax is pending of 73388 people.
Finance ministry said in the statement that the assessee who file the income tax return and not pay the self-assessment taxes will render an assessee in default under income tax provision. This may invite penal consequences as well as other penalties.
So income tax department apples all the people who have not pay the self-assessment tax for the current financial year to pay immediately before 31 March 2013.
The tax arrears if any in the case of self-assessment should be cleared when filing the income tax return.
Income tax department is doing best to achieve the target of Rs. 5.65 lakh crore rupees of tax during the current financial year, which is ending on 31 March 2013. In this contrast, department also sent notice to the tax-payer who have not filed the income tax return. 35000 notices are issued and app. same number of notice in line to be issued.
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