KNOWLEDGE SIR

Income Tax department seeks to recover Rs 5,000 crore from taxpayers: Report knowledge sir The Income Tax department sought to recover Rs 5000 crore from taxpayers, a report in the Times of India stated. According to the report, the I-T department hace come across many cases where the taxpayers have taken credit for payment of "self-assessment tax" without actually clearing the dues, resulting in arrears of approximately Rs 5,000 crore.  The non-payment of dues, according to the publication, has unabled the I-T department being unable to process the ITR filings of the last financial year with authorities now approaching the assessees to immediately pay up.  If an  Income Tax Return  for a financial year has not been filed up to the due date prescribed, it can still be filed at any time before the end of the relevant assessment year. Thus, the Income Tax Return for the financial year 2017-18 can be filed till March 31, 2019. However, you shall be liab...