The Income Tax Department has sent notices to more than one lakh taxpayers. Finance Minister Nirmala Sitharaman gave information about this. You can get a notice by the Income Tax Department for many reasons. In which you can also get notice due to not giving correct information to the Income Tax Department, giving deduction or other kind of wrong information.

But this notice is not always sent to you by the Income Tax Department only for major mistakes. Even because of a minor mistake of yours, you can come in the eyes of the Income Tax Department. Your small mistake can become a cause of trouble. Because of which you can also get a notice (Income Tax Department Notice). That’s why you don’t have to panic on every notice.

The Income Tax Department has been giving advice

every time it is said by the Income Tax Department that you should give complete information about all your income and investments. The Income Tax Department can send you notices under different Acts. The department does two types of scrutiny. In which one can be compulsory and the other can be manual. You can avoid the notices sent by the Income Tax Department by keeping some precautions in mind.

Correct information of TDS

Whenever you file ITR, then you should fill the information of TDS very carefully. Because if the documents issued by you and the amount of TDS filled in ITR are different, then the Income Tax Department can send a notice to you.

File ITR on time

The Income Tax Department can send you a notice even if you have not filed the return. If your earned income falls in the tax slab, then you must file a return. If your property is abroad then you must file ITR. Otherwise, the Income Tax Department can send you a notice.

Undisclosed Income

Income Tax Department can now know all your income information very easily. That’s why don’t keep any undisclosed income in the return. If you hide your income then you will have to face the notice of Income Tax Department.

Mistake in return

If you make a mistake in income tax return. Many times people forget to enter important information. In such a case also the Income Tax Department can send you a notice.

What to do after getting the notice?

If you get a notice from the Income Tax Department, then you should not panic. Because sometimes you can get notice only because of small information or incomplete information given in your return. Therefore, first verify the notice by keeping patience. Along with this, give detailed information about the reason for which the notice has been received by the department within the time limit.

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If you have not yet filed Income Tax Return, then fill it immediately. Till now the last date for filing income tax return is 31st July. Although there is a demand to increase it in many places by bringing it from social media, but, the government has clearly refused to extend its last date, that is, now you have to file income tax before July 31 in any case.

If you are also a tax payer then this news is very important for you. The government has changed the rules for filing tax returns. Actually, the Finance Ministry has increased the scope of income tax filing to bring more people into the tax bracket.

It is worth mentioning that some time ago the Ministry of Finance issued
a notice and informed about this. According to this notification, now people with different income group and income will also have to file income tax return. Under the new rule, now more and more people can be brought under the tax net. These new rules will be considered effective from April 21.

Know what the new rules say?

According to the new rule, if the sales, turnover or income in any business is more than 60 lakhs, then the businessman will have to file a return. Even if the earning of a salaried person is more than Rs 10 lakh per annum, they will still have to file ITR. Income tax return has to be filed even if the amount of TDS and TCS is more than Rs 25,000 in a year. Let us tell you that the limit of TDS + TCS has been kept at Rs 50,000 for taxpayers who are 60 years or more.

The post ITR Filing Update: Big Change in ITR Rules! Finance Ministry issued new orders first appeared on Rightsofemployees.com.