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of <h1>Wilful Tax Evasion Under Section 25 of Interest-tax Act, 1974, Can Lead to Imprisonment and Fines</h1> Section 25 of the Interest-tax Act, 1974, addresses the wilful attempt to evade interest-tax, penalties, or interest under the Act. It stipulates that any person who deliberately attempts to evade these obligations will face rigorous imprisonment ranging from three months to seven years and a fine. A wilful attempt includes possessing or controlling documents with false entries, making false statements, omitting relevant information, or creating circumstances that facilitate tax evasion. This punishment is in addition to any other penalties that may be imposed under the Act.
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