The Income Tax Department monitors the financial activities of the people in the country. It keeps the financial information of every person who pays tax. At the same time, let us tell you that it is mandatory for every person who pays tax to fill ITR.
In such a situation, many rules have been made by the Income Tax Department regarding ITR. If you ignore these rules made by the department or make any mistake in filling ITR, then a notice can be issued to you by the tax department.
In such a situation, if you are also going to file income tax return, then let us know which mistakes you should not commit even by mistake and in which situations notice can be issued to you by the department.
If the given information is not a correct match, then tell that if your total income and the income given by you in ITR do not match, then a notice can be sent to you by the Income Tax Department. In this case, you should give correct information about total income, assets and other things in ITR.
On the other hand, if there is a difference in income and transactions, if your income increases or decreases due to any reason, then the tax department can ask for information from you. For this reason, whenever you are doing any high value transaction or investing more money in any property, then you must give information about it in ITR.
On late filing of tax return, if any person does not file income tax return on time, then notice can be sent to him under section 142 (1) (i) of the IT Act and he can also be fined.
If you do not give the correct information about income tax, then
tell that the tax return is assessed by the Income Tax Department. In such a situation, if the correct information of income tax has not been given, then a notice can be sent to the taxpayer under section 147.