Some of the taxpayers who have reported capital gains are getting scrutiny notices from the tax department asking for more details regarding these transactions.
4 min read7 Aug 2020For each notice from the tax department, a particular procedure needs to be followed to file a replyThe department can pick up ITRs for scrutiny till up to six months from the end of the financial year in which the return was filed.
3 min read17 Oct 2019The CBDT has notified revised income tax scrutiny notices that will allow taxpayers to conduct their business with the taxman over the Internet without needing to visit the I-T office
2 min read24 Jun 2017Finance ministry modifies income tax department scrutiny notice by bringing in 'three new formats' that will clearly stipulate if the inqury against taxpayers is 'limited, complete or manual'
2 min read11 Jul 2016The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared