Filing ITR? Non-Disclosure of Income May Cost You ₹10 Lakh Fine and 7 Years in Jail
NewsWith the deadline for filing Income Tax Returns (ITR) nearing, taxpayers are urged to exercise caution. Even small omissions or failure to disclose information can attract severe penalties—up to ₹10 lakh in fines and imprisonment ranging from six months to seven years. Chartered Accountant Ravi Ranjan from Ranchi highlighted common mistakes taxpayers must avoid: Foreign […]