InvestorQ : InvestorQ-Ask,Answer & Share All About Finance!
krithika Saxena made post

What if I don't pay the tax on the dividend received through Mutual funds?

user profile image
Gauravi Patel answered.
1 week ago

I would advise against doing so. Income tax invasion is a criminal offense in India. Under Chapter XXII of the Income-tax Act, 1961, the tax invasion.

The tax invasion can attract hefty penalties along with evaded tax or in some cases may even land you in jail. The government can track your transactions under the PAN and Aadhar number provided by you. Any discrepancy in the same could attract an income tax notice. And you may be charged with “Concealment of income” under the income tax laws. It is always easier and less risky to pay your dues rather than invite scrutiny by the government.