Earning Interest Income but Not Paying Taxes?
The Central Board of Direct Taxes (CBDT) is focusing on those with interest income of Rs5 lakh or more who are not paying taxes or filing returns. This includes senior citizens, professionals earning in cash and others who may be evading taxes. The move is part of the income-tax (I-T) department’s attempt to widen the tax base to meet targets. 
 
If you are earning interest over...
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