New law to blacklist, non-filers of income tax returns mooted
New Delhi, July 30: The government is set to bring in a law that would black-list non-filers of income tax returns.
Currently, the law does not provide for any stringent penalty for non-filers. The current provisions state that non-filers would not be eligible to apply for loans, tenders etc. The move to bring in a new law is aimed at increasing the government's tax revenue and also create data on of employment in the unorganised sector.
Government officials say that demonetisation had brought more people under the tax net.
However, with cash use increasing once again, a new batch of private practitioners and business owners had emerged, who would need to be brought under the tax net.
The government had extended the date for filing income tax returns from July 31 to August 31. In case one missed the deadline, there is time till December with a penalty of Rs 5,000 and also till March with a penalty of Rs 10,000.