Income Tax Notice Alert: The department has sent notices to thousands of taxpayers regarding mismatch of details in the returns filed. The Income Tax Department is sending tax notices to taxpayers on those ITRs where errors are found.
Income Tax Notice Alert: Income tax returns filed for assessment year 2023-24 have been filed and their processing is going on. In such a situation, the Income Tax Department is sending tax notices to the taxpayers on those ITRs where errors are found.
It is known that the department has sent notices to thousands of taxpayers regarding mismatch of details in the returns filed. The details found in the returns of these taxpayers are different from their tax statements, or the amount claimed is incorrect.
How does the government send notice?
Actually, you have two tax statements, Form 16 and Form 26AS, which record the details of your financial records and transactions, and when you file your annual return, the tax department matches the details of your return with these documents.
If you have not filled any details, have not given information about any income, have not given information about any transaction, or have claimed excess tax deduction, then all this comes to the notice of the department, in such a situation, there is a mismatch in the return. An intimation of tax notice is sent to you.
What to do if notice comes?
If there is a tax credit mismatch in your return or you have claimed excess deduction, then you will have to file a revised return for the same. If there is any discrepancy in TDS (tax deducted at source) then you will have to inform your employer/deductor and then file the correct return. If you receive Section 143(1) intimation, you can also file a rectification request. You have to show the challan in your ITR, the tax credit claimed in your return should match with the Form 26AS.