19/10/2025
Beware of "Zero Return"
Even if a person's income is not taxable, they must still provide accurate details in their return.
Submitting incorrect information, including showing income, expenses, assets or liabilities as zero without reflecting the actual figures, is a punishable offense under sections 312 and 313 of the Income Tax Act (Taxpayer may face 5 years jail in these cases).
While no tax is payable if income falls below the taxable threshold, there is no legal basis for filing a return showing zero against all heads in the form.