Income Tax Notice: Please note that income tax can send a notice for not paying tax, not disclosing income, giving incorrect information or for many other reasons. Do not panic when you receive a tax notice, but gather the correct information and respond quickly.
Income Tax Notice: The deadline for filing income tax returns (ITR Filing Deadline) has ended on 31st 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 the 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 come and how to respond to them.
It is important to respond to income tax notices in time
The Income Tax Department sends notices to taxpayers when it finds something mismatched or wrong. The taxpayers are informed about the income tax notice through email and it is necessary to respond to the notice in time.
Why does the Income Tax Department send notices?
First of all, know under what circumstances an Income Tax notice can come. 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 still need 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 situation, you may get a notice from the Income Tax Department for not filing ITR. If you have filed ITR one year, but did not file it the next year, the department will still send you a notice.
Remember, delaying tax related matters can increase problems. Therefore, make sure to 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.
Even if TDS is deducted, you must file ITR
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 tax.
You may get a notice for not giving correct information about income
At the same time, if you have missed the last date for filing tax return, you may get a notice. If you have not given correct information about your income or have given 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 information correctly during tax filing. The tax department also keeps an eye on your big payments, such as depositing more 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 get an income tax notice?
Don’t panic when you get 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 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, then you can take the help of a tax expert.
How to reply 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 go to 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 enter your reply by selecting the reason for not filling the notice.
