INCOME TAX NOTICE
REASONS YOU MAY RECEIVE AN INCOME TAX NOTICE
Published By Livemint | 30 Mar, 2023
Income tax
Income Tax Department issues income tax notices for a number of reasons
Here are the top reasons a taxpayer may receive an income tax notice
TDS mismatch
When the TDS claimed in the tax return doesn’t match with Form 26AS and 16 or 16A
Income mismatch
Whenever there is a discrepancy between the income tax return and form 26A
High-value transactions
You can invite an IT notice if you fail to report a high-value transaction
Excessive deductions
If you claim deductions or exemptions that seem unrealistic compared to your income
Tax returns
f you fail to file your tax returns on time or don't file them at all
Non-disclosure of assets
Failing to disclose assets or foreign income in your tax return
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