Tech professional Samir (name changed) was shocked to receive a tax demand of about ₹1.98 lakh related to his income tax return (ITR) filed for the assessment year 2024-25. According to the intimation 143(1) sent to him, the tax deducted at source or TDS on his salary reported in his form 26AS is higher than … Read more
The deadline to file an income tax return (ITR) passed on July 31, 2024, following which eligible taxpayers received either a refund or an income tax (I-T) notice intimating them that there was something amiss in their income tax return (ITR). It could be because of a defective I-T return or a pending assessment. Let … Read more
Even after filing your tax returns on time, receiving a notice or intimation from the income tax department can be confusing and unsettling. It’s essential to address these notices promptly and accurately. Start by carefully reading the notice to understand its purpose. Typical issues may include reported income discrepancies, TDS information mismatches, or incomplete details. … Read more