The deadline for filing income tax returns ended on 31 July. This time around 7.28 crore ITR returns have been filed. However, mistakes while filing ITR are quite common.
Many of these crores of taxpayers may have either chosen the wrong ITR form or made mistakes in filing returns by not disclosing all sources of income. Sometimes some things are missed by mistake or some things are deliberately hidden.
If you have also received an income tax notice, then do not worry. In this article, we will tell you how many types of income tax notices are received and how to respond to them.
It is important to respond to income tax notice on time
The Income Tax Department sends notices to taxpayers when it finds something mismatched or wrong. Taxpayers are informed about the income tax notice through email and it is necessary to respond to the notice in time.
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Why does the Income Tax Department send notice?
First of all, know under what circumstances you can get an income tax notice. Let us tell you that these notices can come due to non-payment of tax, non-disclosure of income, giving incorrect information or many other reasons.
You get a notice for not paying tax
Even if your company deducts tax from your salary, you are still required to file Income Tax Return (ITR). If your company has deducted tax from your salary, it means that your salary is more than the basic exemption limit prescribed under the income tax slab. In such a case, you may receive a notice from the Income Tax Department for not filing ITR. If you have filed ITR one year, but have not filed it the next year, the department will still send you a notice.
Remember, delaying tax related matters can lead to problems. Therefore, file your income tax return on time every year.
Non-filers of income tax can receive notices under several sections of the Income Tax Act, 1961, including sections 139(9), 143(1), 143(2), 143(3), 245, 144, 147 and 148.
Do file ITR even if TDS is deducted
Even if your company is deducting TDS from your salary, you must file Income Tax Return (ITR) every year. This is because if your income is more than a certain limit, you will have to pay tax, even if your company has deducted the tax.
You may get a notice for not giving correct information about your earnings
On the other hand, if you have missed the last date for filing tax returns, you may get a notice. If you have not given the correct information about your income or have given the wrong tax exemption, then also you may get a notice. The income tax department should have information about all your income. Therefore, give all the correct information during tax filing. The tax department also keeps an eye on your big payments, such as depositing a lot of money at once or making big purchases through credit card. When you fill your income tax return, give correct details of all these things.
What to do if you receive an income tax notice?
Do not panic when you receive a tax notice, but gather the correct information and respond quickly. If you have received an income tax notice, first read it carefully. Check your name, PAN number and tax year given in the notice carefully and understand what is written in the notice. The tax department sends many types of notices, each notice has a different meaning. If you do not understand the notice or do not know how to respond to it, you can take the help of a tax expert.
How to respond to income tax notice?
If you have received an Income Tax notice (ITR notice) on email, you can reply to it online. For this, you will have to visit the Income Tax e-filing website. Authenticate the notice issued by the Income Tax Department by going to ‘Quick Links’ on the e-filing portal. There you will find the ‘Compliance’ section, where you can find your notice. You will be given some options there, from which you can select the reason for not filling the notice and enter your reply.
