Income Tax Notice

Understanding Income Tax Notices: Income Tax Department sends formal letters for various reasons, such as clarifying returns, reminding to file, or initiating audits. Importance of Prompt Response: Ignoring notices can lead to penalties, fines, or even legal consequences.

Reasons for Notices: Non-filing of returns, mismatch in tax credits, non-disclosure of income, or scrutiny assessments are common triggers. Communication Channels: Notices are sent via email or text messages to registered details. Verifying Notice Authenticity: Check name, PAN, assessment year, and issuing officer's details for accuracy.

Detailed Information: Review the 'Related Information Summary'. Select relevant options for each transaction listed. Options for Transaction Info: Investment from exempt income, Investment from savings, Investment from gifts/loans, Income below taxable limit, Income from a different assessment year, etc.

Accessing Notices: Most notices are password protected, requiring PAN and birthdate for access. Common Notices and Resolutions: Respond promptly to defective returns, scrutiny assessments, or tax demand adjustments. Consequences of Non-Response: Failure to respond within the deadline may lead to penalties, fines, or even imprisonment.