Hello,
I am non tax filer person. I do some online business and i have made good money from the last 7 years. When i started earning i was not mature enough and i did biggest mistake of my life. I belongs to a extremely poor upper cast family and whatever i earned i thought its all mine and i will not pay tax on it. I did this because i was upset with the government and the system because i did not get a chance to get educate from the English Medium school and at the time of graduation i did not bank loan to do BCA / MCA. I am self made man. i started as a tuition teacher, bought 2nd hand PC from it and learned myself programming.
But after some time i started to realize that i have done biggest mistake of my life. There is nothing in my 26 AS. I dont do anything which get reported. I have also visited once in the Income tax department but no one was willing to talk on it they asked me to meet an ITO but i denied. however i meet with few CA's and Income tax Lawyer in my city in the past and discussed everything with them. They scared me by saying all your earning is made online and you cant hide it at all and you cant pay tax for the last years and if you only pay for the current year there is a huge chance of scrutiny of your ITR return because you are earning huge amount around 12 to 18 lakhs p.a, you can get 200% tax penalty and so on. I got afraid by there words and since then i am escaping myself but now as government is reforming and fixing loop holes i am sure they will not about me themselves via interest that i am generating in my savings accounts around 2 lakh p.a.
I want to get out of situation and want to leave a peaceful life. Is there any remedy available that i can try to get myself into the system once again and then i will pay tax every year.
Please give your views,
CAclubindia
