Mon, Aug 19, 2024
ITR filing: In cases where discrepancies are found, the department can issue a notice requesting proof of deductions or details about the income source. Failure to provide satisfactory responses could result in additional tax liabilities, penalties, and interest charges for late tax payments. Continued non-compliance might even lead to legal action.
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Mon, Jul 29, 2024
ITR: Fraudulent claims lead to delayed refunds, thorough investigations, additional tax liabilities, and penalties. The department encourages ethical filing to ensure smooth processing and avoid legal consequences.
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.
Fri, Jun 14, 2024
Filing Income Tax Returns: With the deadline looming, taxpayers should steer clear of common mistakes that could complicate the process or incur penalties. Individual taxpayers must file by July 31st of the assessment year. Hasty filing or procrastination can lead to errors, affecting the outcome of the filing. Whether filing manually or online, avoiding these key mistakes is crucial.
Thu, Jul 13, 2023
Income tax return: Many times people make mistakes even in choosing the right ITR form. It is necessary to choose the right ITR form first. There are many advantages of filing ITR as well. It is the month to file Income Tax Return (ITR filling). Obviously you are trying to file it on time with all your preparation. But before filing ITR do you cross check whether you have made any mistake? After all, what are the things a taxpayer should consider before filing ITR? Also know what are its benefits.
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