How Evading Tax Can Cost You A Fortune?


Bangalore: As a taxpayer you get the liberty to self asses your income and pay taxes accordingly. But as you know, with freedom also comes responsibility. Being a rational citizen of India, you must not evade tax by misrepresenting the tax payable amount or refuse filing income tax returns altogether. You can get into trouble if you evade tax, as according to the tax law of the country it is illegal to do so.

BankBazaar.com has come up with facts stating what can happen if income tax authorities come to know that you are evading tax.

Scrutiny of Income tax Return Files

Income tax authorities may take up your income tax return for scrutiny, if they suspect that there is tax evasion. This generally happens when they detect a deliberate attempt to conceal income with the motive of reducing tax liability. And if you’re found guilty, heavy penalties will be imposed against you for evading tax.

Also Read: Check Your Income Tax Refund Online