Non-filing of income tax return invites penalty

In today’s busy life, many people may fail to file income tax returns. However, it is imperative that every person who has taxable income above the basic exemption files tax return in time.
What can be done to regularise past years’ tax returns? Will there be any penalty for not filing tax return? The present article by Dr. Suresh Surana, Founder, RSM Astute Consulting in Financial Chronicle  takes a gives  a closer look into the matter.

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