4 min read.Updated: 07 May 2021, 12:44 AM ISTGautam Nayak
Even if you are able to correct the info, your case is likely to be selected for limited scrutiny
In her budget speech, the finance minister announced that pre-filled income tax returns, which so far came filled in with details of salary, tax payments and tax deducted at source (TDS), would now come filled in also with details of capital gains on listed securities, dividend income and interest income from banks, post offices, etc. To facilitate the pre-filling of such information, rules have been notified requiring some entities to furnish certain information to the tax department. What is this information and what does this imply for the common taxpayer?
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