An income tax notice is a written document sent to a taxpayer by the Department of Income Tax, for intimating the taxpayer on an issue with his/her tax account. This is for various purposes, such as filing/non-filing of his/her income tax return, making the assessment or asking for other information, etc. When the income tax department sends a note, the taxpayer must act on the notice within a stipulated time.
Error In TDS Calculation:
The Disparity In ITR:
For Requesting Certain Documents:
When Tax Returns Are Not Filed:
Investments Made In Spouse Name:
Huge Value Transactions:
Failed To Disclose The Assets:
Here, this two-column shows the calculation done by both the taxpayer and IT department computing the total income and liabilities. And eventually, it shows who was liable.
No Demand Or No Refund Notice:
This notice is generally served to the taxpayer when the income tax department finds no fault on the tax return filed by him/her. It is a mere intimation from the IT department that ITR is processed and stating that there was no tax demand and no refund.
If the assessee has paid more tax than the liability, then the refund notice will be served to the taxpayer stating that the excessive amount paid will be refunded to your bank account.
If the Income-tax department after the computation process has found any shortfall in your tax payment, then this demand notice will be issued and ask the taxpayer to pay the tax due within 30 days.
Nowadays, the queries related to the income tax can be clarified online by visiting the official income tax department website.
The Finance Act, 2016, brought some changes to section 143(1) of the income tax act. Here, the scope of prima facie adjustments has expanded and added four clauses for making the adjustments. They are
Get Our Legal Assistance To Respond To The Income Tax Notice
When you receive an intimation notice about the outstanding tax demand, you can respond to it through the e-filing website of the IT department.
Certain documents should be furnished for supporting a claim against the intimation notice. They are
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IT Department to eliminate physical interface between the taxpayer and the taxman
21-Jul-20: The IT Department has implemented the Faceless Assessment Scheme recently. This means the Income Tax assessees who have got scrutiny notices do not need to go visit any office or meet any official from now onwards. They can file their replies online.