Income Tax Notice: Latest News and Updates, Top Stories, Videos, Photos About Income Tax Notice

Know Deposit Limits In FDs, Bank Accounts & Mutual Funds To Avoid IT Notice

According to financial analysts, taxpayers should be wary of six types of high-value transactions, particularly those made in cash, because the Income Tax Department is extremely attentive to this. Banks, intermediaries, and other firms shall disclose all high-value transactions to the ...

Here’re The List Of Transactions That Can Get You An Income Tax Notice

Dealing in high-value cash transactions will get you in touch with the notice of the Income Tax Department or on the radar of tax authorities. Banks, mutual fund houses, brokerages, and property registrars all indulge in cash-related transactions. These establishments must ...

7 Instances Where You Can Receive Income Tax Notice

Income tax has been widening its tax payer base and also cracking down on individuals and other assessees who despite falling in the taxable slab do not file their ITR return. For the same, the department with effect from July 1 ...

PPF Rule Which You Might Not Know

PPF or public provident fund account is amongst the best-suited for all investor categories simply because of the tax advantage that offers in the existing tax regime under Section 80C plus its EEE category. Also, the avenue is far safe due ...

Income Tax Notices Without Identification Number To Be Soon Treated As Invalid

All notices, orders or summons issued by Income Tax officials, from 1 October, will include a computer-generated Document Identification Number (DIN). In a recent press release, the Central Board of Direct Taxes (CBDT) informed of this move and is hoped to ...

I-T Notices To 1.16 Lakh For Cash Deposit Of Over Rs 25 Lakh

The Income Tax Department has slapped notices on 1.16 lakh individuals and firms who made cash deposits of more than Rs 25 lakh in bank accounts post note ban but failed to file returns by the due date, CBDT Chairman Sushil ...

Income Tax Dept Relaxes Mandatory TaxPayer Details Updation On E-filing Site

When a tax-payer logs into his e-filing account with the e-filing website of the Income tax department, a page for updation and verification of taxpayer's details opens up and without providing all such details, the user was not able to log ...

You Can Respond To Income Tax Notices Online Soon

Replying to income tax scrutiny notices with supporting documents will soon be just a click away. Instead of having to make the rounds of the tax department with a sheet of papers in response to notices received, taxpayers will soon be ...

9 things to do when you get an Income Tax notice

Do you know that your tax return may be picked for random scrutiny? Yes! It is quite possible that you receive a notice from the Income-Tax department for old dues or ambiguous income. Sending scrutiny notice under section 143 (3) has ...

Income Tax Notice News