Thursday, March 28, 2024
HomePersonal FinanceITR notice : Know, what to do if the ITR notice comes...

ITR notice : Know, what to do if the ITR notice comes despite filling the ITR!

ITR notice: ITR filing last date has come close. On seeing the notice of Income Tax Department, people get nervous and start thinking what to do now.

If you are understanding the IT notice easily, then answer it, otherwise you may face a big problem.



ITR filing last date has been increased to 10 January. Many times people file ITR on time, but they get notice of Income Tax Department. On seeing the IT notice, people get nervous and start thinking what to do now. There is also the worry that everything was right then why notice has come. Let’s know what to do in that case even if notice comes despite filling ITR.

Why comes notice of income tax department?

If your income is taxable and you do not pay tax, then the notice comes, but if you show less income and the income tax department sees more income then the notice also comes. Not only this, you may also get a notice from the Income Tax Department due to reasons like mistake in calculus while filling ITR, not filling the income correctly or showing excessive losses.

Also Read: APY: Under Atal Pension Yojana, more than 52 lakh new shareholders added so far in the current financial year

Fill tax returns correctly

The tax notice is issued based on the tax logics of the system. Taxpayers can avoid such notices only if they ensure that the tax return is correctly filed at the right time, the income details filled in the ITR and Form AS26 are the same, deposited and withdrawn in the bank account Be within a limit and the ITR is informed about buying or selling mutual funds or shares.
Read the notice properly

On receipt of income tax notice, read it properly. Read why you have received the notice and the seriousness of the notice. Also see what is the deadline to respond to this notice. It is necessary to respond to you within the timeframe given in the notice. If you do not do this, you can get into big trouble. If the notice has come due to some minor mistake, then reply giving the explanation.




Give all information to IT department
If the notice has come up with some kind of investigation, then provide all the necessary information and documents sought by the Income Tax Department. If you do not respond to the notice sent by the department, you may have to pay a big fine as per the rules of income tax. To avoid such notice, you should file your return on time and if there is any arrears, then it should be paid in time.
Do not hesitate to seek expert advice
If you feel that the income tax department’s notice is very serious and you are not able to answer it, then feel free to consult an expert. It would be better for you to hire a qualified chartered accountant who can help you in answering your notice. Not only is it necessary to reply to the notice in time, but a satisfactory reply is also necessary.
Parvesh Maurya
Parvesh Maurya
Parvesh Maurya, has 5 years of experience in writing Finance Content, Entertainment news, Cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @ informalnewz@gmail.com
RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments