Changes in the Finance Bill will let the government prosecute companies that don’t file tax returns, said CBDT chairman Sushil Chandra. This meant that the tax department could not take any action against shell companies that did not file tax returns, since there was no tax payable. Many shell companies never filed returns. Of these firms, 226,000 firms were removed from the records as on December 2017, minister of state for law and justice and corporate affairs P.P. Some file tax returns very late.

Source: Mint February 04, 2018 18:11 UTC