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What will happen if i don't pay tax

Manu (Mr) (132 Points)

30 April 2016

Guys,

what will happen if i don't pay taxes. I am a freelancer earned income upto 5 lakhs last year.

This is my first time filling tax, will there be any problem if i don't fill tax?

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3 Replies

CA Ayush Agarwal (Practice) (122 Points)
Replied 01 May 2016

Whether any of your tds has been deducted during the previous financial year?

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Ruchi (CA) (1410 Points)
Replied 01 May 2016

You are supposed to pay tax and file IT return. If you don't then you might get notice from income tax department after which you will not only gave to pay your tax with interest but also pay penalties for the same .

Punith (Article assistant) (107 Points)
Replied 02 May 2016

Hi Manu,

Yes you have to file Tax returns reason-

First of all they woruld have deducted TDS on your Income and if you dont file returns, Income tax department will trace you and later you have to pay more interest on it..

You can also get notice from department for non filing return, notice for concealment of Income.

If your TDS are deducted more and you have to claim refund.