Taxpayers must file their tax returns and pay on time. Penalties may be imposed on those who do not comply with their filing or payment obligations. If the society does not file the Income Tax Return (Form P1) and the Original Audited/Certified Statement of Accounts to the Comptroller of Income Tax by 15 Apr, IRAS may issue:

• an estimated Notice of Assessment (Tax has to be paid within one month, based on IRAS' estimated Notice of Assessment)

• a penalty for not filing

• Court Summon

• Warrant of Arrest, or take legal action. For more details, please refer to Late Filing or Non-Filing of Income Tax Returns