Income Tax Notice: In the last few years, the Income Tax Department has made its work quite digital. Now the work from processing of returns to refund is completed with the help of software. Even the scrutiny of ITR form is done by software
The season for filing Income Tax Return (ITR) has started. Many taxpayers have filed ITR. Many employed people are waiting to get Form 16. Employers issue Form 16 to their employees by June 15. Only after this, salaried taxpayers file returns. However, this time taxpayers have got more time to file returns. CBDT has extended the deadline for filing returns to September 31.
Do not wait for the deadline to file returns
Experts say that taxpayers should not wait for the deadline to come closer to file Income Tax Return. The reason for this is that filing ITR in a hurry increases the chances of making mistakes. Apart from this, taxpayers may forget to mention any income due to filing returns in a hurry. Due to this, taxpayers may get a notice from the Income Tax Department.
There is a possibility of mistakes in filing returns in a hurry
Complete caution should be taken while filing income tax returns. Information about every income, big or small, should be given in the ITR form. Despite this, if a notice from the Income Tax Department comes, then one should not panic. Especially if you have planned the income tax rules properly, then you do not need to panic. Many taxpayers get tensed as soon as they receive an income tax notice. They do not even try to find out what is written in the notice.
Most of the work of the Income Tax Department has become digital
Experts say that in the last few years, the Income Tax Department has made its work quite digital. Now, from processing of returns to refund, everything is done with the help of software. Even the scrutiny of ITR forms is done by software. Income Tax Department now keeps a close watch on the financial transactions of the taxpayer with the help of Form 26AS and AIS. If the department sees any discrepancy in the financial transactions, income, tax payment of the taxpayers, then it can issue a notice to them on the basis of suspicion.
Receiving a notice does not mean that the taxpayer has committed a crime
Taxpayers need to understand that receiving an income tax notice does not mean that you have committed a big scam. Actually, the Income Tax Department can ask questions to the taxpayers about any data by sending a notice. Taxpayers just have to answer the department’s questions. The matter ends after the department is satisfied with the taxpayers’ answers.
The department sends notices in different sections
The Income Tax Department issues notices to taxpayers under different sections. For example, under section 142(1), the Income Tax Department can send a notice for not filing ITR. It can also send a notice under this section if it needs any additional document from the taxpayer. Under section 139(9), a notice is sent when a taxpayer uses the wrong ITR form to file a return.
Take advice from tax experts if needed
Experts say that when you receive an income tax notice, you should first read it and try to understand what is written in the notice. If a document has been sought from the taxpayer or an answer has been sought to any question, then the taxpayer should reply to that notice. One should try to reply to any notice as soon as possible. The reason for this is that every notice is time-bound. If you do not understand what is written in the notice, you should seek the help of tax experts.
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