Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What happens if returns are not filed on time?

filed happens returns time
0
Posted

What happens if returns are not filed on time?

0

When returns are not filed the Commissioner may raise provisional assessments within eight months after the prescribed date. This assessment will not affect any liability otherwise incurred by that person. If a person fails to deliver a return and the Commissioner is of the opinion that the person should pay tax, the Commissioner may determine the amount of chargeable income of that person and assess him accordingly.

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.

Experts123