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As the technology has come around with the most of the income tax (IT) departments’ communication addressed to the taxpayer is provided to his or her enrolled email. The Delhi High court in Venad properties Pvt ltd. vs. Commissioner of Income Tax (2013) 212 Taxman 20, ruled that the object and the intention of the […]
This time, due to the lower tax deducted at source (TDS) of many individuals for FY20, Income Tax authorities have sent notices to several taxpayers. The reasons cited in notices is that while some taxpayers have not paid the apt tax on interest that is earned by them others have paid lower tax on credit […]
Some Reports state that a notable decrease has been noticed in the number of Income Tax Returns (ITR) picked up for scrutiny. Besides the percentage, there is no exact number of such cases, but expert believes that better data collection and digging deep into details are the two key factors that play a huge role in […]
When a person reaches court seeking a legally required court order in a notice against another party or parties that may affect them and also deliver the same notice to other parties in a permitted way then the complete process is known as service of notice under GST (Goods and Services Tax) . A court […]
According to section 149 of the Income Tax Act, Certain terms and conditions may apply while issuing the notice of tax assessment above six years. Also, the income tax department is liable to reopen a case only when an assessee has failed to provide returns or has not given proper information and documents regarding the […]
The Income Tax Department has commenced taking actions against unidentified /nameless property and black money.
The income tax e-returns filed for the April-February period has marked up almost 30% more when the comparative study was done with the analogous span of time in FY18 which attested 6.7 crore income tax e-return filing.
For every eligible taxpayer filing the ITR would be a yearly obligation in India. It’s a legal obligation that guarantees correct reporting of income and financial activities to the government; it’s not merely a formality. The Income Tax Department uses an automated system to carefully review the submitted returns in order to speed up this […]
If you fail to file your ITR within the next 10 days for some reason or another, expect a compliance notice to land at your doorstep any time soon. And in case the notice does show up, this blog will surely go a long way in helping you to answer the compliance notice.
