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Friday, February 23, 2024
HomePersonal FinanceIncome Tax Notice: Big News! Income Tax Department is sending notice to...

Income Tax Notice: Big News! Income Tax Department is sending notice to these taxpayers, know within how many days the reply will have to be given.

Income tax notice: If you have claimed fake deductions or exemptions in your Income Tax Return, you may be in trouble. Actually, the Income Tax Department is sending notices to the taxpayers in a hurry. Let us know in the news below how and in how many days to reply-

Income tax notice: If you have claimed fake deductions or exemptions in your Income Tax Return, you may be in trouble. Recently, many reports have said that the Income Tax Department is sending notices to salaried class taxpayers asking for proof of the exemption or deduction claimed in their ITR.

The tax rules allow individuals to claim tax exemptions and deductions made under the old tax regime. However, experts say taxpayers claiming fake or fraudulent deductions in their income tax returns may attract the attention of the Income Tax Department and may receive notices.

Today the Income Tax Department has many sources from which they can get information about the income and expenditure of any person. Whenever you file ITI, Income Tax also takes information from independent sources. If there is any discrepancy then the Income Tax Department sends a notice to the taxpayer.

What should you do after receiving notice from Income Tax Department?

Nowadays, income tax notices are generally sent to the registered email ID of the taxpayers. Tax experts say that if a salary class taxpayer receives a notice, he should respond to the notice on time. The matter may get stuck due to delay. Along with responding to the notice, you should also provide documents regarding your tax exemption or allowances etc.

When can you get the notice?

If the Income Tax Department finds any mistake in your ITR, you may get a notice.

How much time do you get to respond?

After receiving the notice, taxpayers generally get 15 days to respond. However, if he is not able to respond to the notice within the stipulated time, he can ask his local officer to extend the time.

How to respond to income tax notice?

Do not ignore the notice: Ignoring the notice from the Income Tax Department can lead to serious legal consequences. Reply to the notice within the stipulated time.

Read the notice carefully: Understand what the notice is about. Answer based on the deficiencies found.

Attach documents along with the reply to the notice: Make sure to attach the necessary documents along with the notice.

Keep Records: Keep records of the documents accompanying the response to your notice.

Should you consult a CA or a lawyer?

Taxpayers should seek expert advice to respond to the notices of the Income Tax Department. They know the right way to answer. These can save you from any kind of fine.

Shyamu Maurya
Shyamu Maurya
Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018. Since then he has been associated with Informalnewz. In case of any complain or feedback, please contact me @informalnewz@gmail.com
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