Different sectors of business have been investing their black money on the entertainment industry, which has, over time, caught the attention of the income tax department. The IT department of India has plans to send above seven lakhs income tax notice of high values to more prominent names of the Bollywood industry. Undone dues such as taxes, interest, and penalties lead to receiving an Income Tax notice, under section 156 with a 1% interest being charged until the clearance of the outstanding amount. This income tax notice is sent to seek necessary documents from the alleged celebrities under section 142(1).

 

Get Widget