The Income Tax Department will examine your income tax return if you have submitted an Income Tax Return (ITR). On the other hand, the Income Tax Department has the option of sending a notification if it discovers any uncertainty while reviewing the income tax return. According to recent reports, the Income Tax Department is sending warnings to salaried taxpayers asking them to provide documentation for any tax exemptions and deductions they claim on their ITR. Under the previous tax code, people could make use of a number of tax deductions and exemptions. However, according to experts, the Income Tax Department may become aware of the multiple claims you submitted in your income return and issue a notice. What should you do if the Income Tax Department also sends you a notice? Let’s discuss it.
Don’t disregard notices from ITR Department
Ignoring the Income Tax Department’s letters could have serious legal repercussions. Make careful to reply within the notice’s specified time frame.
Carefully read
to comprehend the notice’s purpose. This usually includes precise information about any discrepancies or problems that have been found.
Assemble the relevant paperwork
Gather any evidence you can that will help you prove your point or that will help you explain the inconsistencies the notice points out.
ITR Filing – Obtain Professional Advice
It can be a good idea to speak with a Chartered Accountant (CA) who is knowledgeable about income tax issues. They can aid you in developing a suitable reaction by clarifying your understanding of the situation.
Create a reply
If you decide to reply in person, be sure to thoughtfully prepare a reply that addresses the concerns mentioned in the notice. Be succinct and straightforward, and if required, cite examples.
Submit suggestions
To provide feedback, adhere to the notice’s instructions. Typically, the response must be submitted electronically via the income tax system.
ITR – Keep Documents
Keep copies of every correspondence, including the notification’s original and your response, as well as any supporting records.
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