Income tax division shouldn’t be giving even 2 rupees, sending discover

by Jeremy Spirogis
778 fine for drunk driving, 1100 for violation of traffic rules – New Year celebration

New Delhi. If you get a discover from the Income Tax Department, chances are you’ll get upset. If this discover is just for 2 rupees then you can be confused whether or not this discover is actually from the Income Tax Department or somebody has joked. But the Income Tax Department has despatched notices of Rs 2 to some merchants in the previous few days. The Income Tax Department can also be sending notices as much as Rs 2 for delay in submitting GST returns and repaying curiosity. For info, tell us that the Central Board of Indirect Taxes and Customs or CBDT is sending a discover to get well the arrears of Rs 46000 crore as GST curiosity. Many of those notices are for 10 rupees and a few even much less. <! –

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5 rupees discover additionally

According to a report printed in Punjab Kesari, a buyer of Equity Information has been despatched a discover to pay curiosity quantity of solely Rs 5. Similarly, an individual has obtained a discover of Rs 2. Let us know that the federal government has elevated the tax goal for the monetary 12 months 2019-20, because of which there’s strain on the tax authorities to fulfill the goal and the Income Tax Department is strictly working. By the best way, the statistics present that between April-January, the central GST assortment has elevated by 10.4%. But in view of the goal set for 2019-20, the remaining two months i.e. February-March, the tax assortment should be elevated by 21%.

100 per day payment

For your info, tell us that on submitting a GST until a sure date, a cost of Rs 100 is charged day by day. It additionally attracts 18 per cent curiosity. The Income Tax Department has mentioned that taxpayers will pay part of their arrears in money, whereas the remaining quantity will likely be added to the enter tax credit score. As far as sending discover for such a small quantity is anxious, the businessmen don’t think about it proper.

– Nirmala Sitharaman: Only Indian revenue should pay tax to NRIs

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