Receiving a tax department notification may be a nightmare. Learn when you could get an income tax notice, why you might, and how to avoid it. A letter from the Income Tax Department may be distressing, mainly because many of us are unaware of what it means and what must be done in such a …
Top 5 Reasons for Receiving Income Tax Notices and How to Avoid Them! Read More »
The Income-tax Department pursues scrutiny assessment by means of following a set of predetermined guidelines. The process is also carried out using sophisticated technology that aids in identifying instances of errors. Listed below are some of the most common reasons for the enactment of this provision: Timeline for Issue of Notice A notice under this …
Income Tax Scrutiny- Top 5 Income Tax Notices & Tips to Avoid Them Read More »
After you file the income tax return (I-T return), the department sends an intimation notice. If you pay more or less tax, then in both these circumstances the IT department sends an intimation notice. Intimation notice is in case of short tax payment to the taxpayer to pay the balance amount and settle the issue. …