Tue, Aug 20, 2024
For the assessment year 2018-19 or subsequent years, if your undisclosed income is more than Rs 50 lakh, you may receive a Section 148 notice from the Income Tax Department by August 31, 2024.
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Thu, Jul 18, 2024
Rather than panicking, it's essential to identify the issue and take appropriate action. Here's what you should do if you receive an income tax notice.
Sat, Jul 13, 2024
Income Tax Season: Avoiding an income tax notice is easier if you are aware of certain financial transactions that attract the attention of the Income Tax Department. Tax evasion is a serious offense, and the department closely monitors large purchases and banking transactions.
Tue, Jan 09, 2024
The thought of getting a Section 143 (1) income tax notice for wrong information provided in the income tax return (ITR) may make you worried. While it is a document that shows that the Income Tax (I-T) Department might have caught you on the wrong foot, you don't need to panic about it. You just need to know the right procedure to deal with it. Know what you need to tell the taxman if you have received an income tax notice.
Tue, Dec 26, 2023
The income tax department stated that such communication is only to facilitate the taxpayers and create awareness around the information available with the I-T department regarding the transactions reported by the Reporting Entities during the year.
Wed, Aug 23, 2023
Individuals may receive a notice from the Income Tax Department if they have concealed their income, claimed incorrect deductions or have any other discrepancies in their ITR.
Fri, Aug 18, 2023
After the Income Tax Filing deadline ends, the I-T department scrutinizes the I-T returns to ensure compliance with tax laws and to track mistakes or instances of tax evasion in the ITRs. In case of any discrepancy, the tax department sends notices to taxpayers who then have to respond promptly to avoid penalty or legal action. In this video we discuss the meaning of common Income Tax notices and how taxpayers should respond to them.
Thu, Aug 10, 2023
Income Tax Notice News: Experts say that missing or filing income tax return after the due date, filing it incorrectly, and claiming an incorrect tax refund, are among the most common reasons for receiving an income tax notice.
Thu, Jul 27, 2023
Income Tax India: The last date for filing ITR is 31st July i.e. only a few days are left. Taxpayers who have not yet filed ITR, many types of questions may arise in their mind. Experts will clear your confusion, see today in this special report with Zee Business.
Sat, Jul 22, 2023
If you wish to revise your return after receiving this notice, you must do so within 15 days. If no action is taken within this timeframe, the tax return will be processed with the specified adjustments. The deadline for income tax return filing is July 31.
Sat, Jun 10, 2023
The annual window to file income tax return (ITR) is now open. As the process of filing ITR accurately and within the stipulated deadline can be intimidating, especially for first-time filers, we have summarised the A-B-Cs of filing income tax return and tips you must follow to avoid hefty fines and notices.
Tue, Oct 11, 2022
Income Tax Notice: Every taxpayer should report all his sources of income, transactions and investments while filing income tax return. Especially, if you do a high-value transaction, then you should mention it to IT. If its details are not included in your tax records, then a notice may come to you from the Income Tax Department. Annual Information Return (AIR) statement keeps the details of all your financial transactions, this statement is checked by the tax authorities. The E part of Form 26A contains the details of your high-value transactions.
Sun, May 13, 2018
Few reasons why we receive income tax notice is due to not filingIncome tax returns (ITR), mismatch in tax rate, high value transactions or scrutiny notice. So, is it time to panic? Find out.
Sun, Jun 11, 2017
Replying to income tax scrutiny notices with supporting documents will soon be just a click away.
Fri, Apr 14, 2017
Income tax dept re-launches operation clean money, to send notice to 60,000 companies. Watch complete news story of Headlines @ 10:00 AM for getting the detailed news updates!
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