The government on Tuesday asked those who have not yet filed their Income Tax Returns (ITRs) for assessment year 2018-19 to file the same within 21 days to avoid proceedings under the Income Tax Act.
The Central Board of Direct Taxes (CBDT) said it had identified through the Non-filers Monitoring System several potential non-filers who had carried out high value transactions in FY18 but had still not filed returns.
It said the data analysis was carried out to identify non-filers about whom specific information was available in the database of the Income Tax Department.
Non-filers are requested to assess their tax liability for assessment year 2018-19 and file the ITR or submit online response within 21 days, the CBDT said in a statement.
"If the explanation offered is found to be satisfactory, matters will be closed online. However, in cases where no return is filed or no response is received, initiation of proceedings under the Income-tax Act, 1961 will be considered," it added.
It reiterated that there was no need to visit any Income Tax office for submitting a response as the entire process can be completed online.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)