They say “Notice the people who are happy for your happiness, and sad for sadness. They’re the one who deserves better place in your life.” The same way the Income Tax department also notices and appreciates every individual and sends a notice to the taxpayers who don’t pay tax or there are certain other situations where notices can be sent to an individual. Let us now discuss about the situations and the reasons to get notices from Income Tax Department.
Notice is an information from the Income Tax Department sent to an individual irrespective of their taxes being filed within the due date. Not all the individuals receive notices. Notices are issued in certain situations where taxes are not filed, assets are not disclosed, error in TDS amounts etc.
Notices are no harm, there is no need to panic instead it’s better to understand the reason for being issued. Notices shouldn’t be avoided. An immediate reaction must be taken. If reply isn’t sent within the allotted time, then the department can charge up to Rs. 10000/- However most notices are issued expecting immediate attention and must rectified as soon as possible. Here are few common reasons for which notices can be issued.
There are few more situations where an individual is liable to receive a notice from the Income Tax Department under different sections.
It is better to file taxes on time by satisfying all the conditions set by the Income Tax Department. Otherwise wait for a notice to be issued. However, H&R Block is an expert in helping you with your notices. You don’t have to worry. To ensure your taxes are filed correctly and within the due dates, enlist the aid of the tax experts at H&R Block India.