Business owners told to clear income tax dues by mid-March



The government has asked nearly three lakh owners to clear their by mid-March.

In a public notice today, Inland Department has specially mentioned business owners who have not paid their taxes even after taking the business permanent account .

According to the Act-2020, B-PAN cardholders who have not paid income tax even after obtaining their permanent account number have been given an opportunity to do so till mid-March.

As per the department, 280,638 taxpayers have neither submitted their income statement nor paid taxes.

The IRD has directed such taxpayers across the country to pay their tax using the exemptions and facilities provided by the Finance Act.

Among the facilities provided by the act, any businessperson with an annual turnover of up to Rs 5 who has not submitted income statement under the Finance Act, can be in the clear by submitting the income statements for the financial years 2016-17 to 2018-19 and paying the due income tax and 25 per cent interest by mid-March 2021.

They will not have to submit the income statement of the previous years.

The department will

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