Income Tax Update: Preparations are being made by the Income Tax Department to send notices to the taxpayers. In this, such taxpayers can also get notice, whose tax has already been deducted…
A new update has come out for taxpayers from the Income Tax Department. It is being told in the update that in the coming days, notices can soon be sent by the department to many income taxpayers. According to a recent report, the Income Tax Department has made preparations to send the notice.
CBDT Chairman told this
According to an ET report, the department may also send a notice to those taxpayers whose tax has already been deducted. The report quoted Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta as saying that the Income Tax Department is trying to reduce tax-related disputes. Currently, only those taxpayers are going to get notice from Income Tax, about whom the department has some concrete information.
Announcement on tax disputes in the budget
Finance Minister Nirmala Sitharaman had announced a new initiative to reduce tax disputes during the budget presented on February 1 this month. He had said that the arrears of tax demand up to Rs 25 thousand till the financial year 2009-10 will be canceled. Similarly, cases of tax arrears up to Rs 10,000 during the period 2010-11 to 2014-15 will also be settled. He had said that about one crore taxpayers can benefit from this.
Special center has been built in Karnataka
The Income Tax Department has set up a Demand Management Center in Mysore, Karnataka for tax disputes. CBDT Chairman says that earlier the Mysore-based center was handling the cases of Karnataka only, but now the center is taking up the cases of the entire country. This center deals with tax dispute cases of more than Rs 1 crore.
They are going to get notice
In the latest preparation of the Income Tax Department, those taxpayers are going to get notice, whose TDS i.e. Tax Deducted at Source has been deducted, but ITR has not been filed. The deadline for filing income tax returns for assessment year 2023-24 has ended. The deadline for filing ITR was till 31 July 2023. After that the time to fill belated ITR was till 31st December 2023.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
