The taxes have to be filed for every financial year, within the due date given by the tax authorities, if not, there will be a penalty and a fine will be imposed on the taxpayer. You can read about the Black Money, Tax-Evasion & Tax-Avoidance in the given link.
Further readings:
- Double Taxation Avoidance Agreements (DTAA) – Countries Involved, Income Tax Provisions
- UPSC Mains General Studies Paper-III Strategy, Syllabus & Structure
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