Winning Bizness Desk
Mumbai. If any notice from the Income Tax department has landed at your doorstep regarding some clarification, then answer it very carefully, otherwise things can get worse. If you have claimed suspicious deduction or exemption in your income tax return, then you can get into trouble. Recently, several reports have said that the Income Tax Department is sending notices to salaried taxpayers seeking proof of tax exemptions and deductions claimed by them in the ITR. In such a situation, if the information of the claimed proof is wrong, the Income Tax Department can take appropriate action. While filing income tax return, taxpayers have to opt for the old tax regime to claim the deduction. Deduction can be claimed under this. However, experts say that taxpayers claiming bogus or bogus deductions in their income returns can attract the attention of the Income Tax Department and notices can be sent to them.
When you get a notice...
If the Income Tax Department sends you notice, then the tax experts opine that salaried individuals should decide to respond to any notice from the Income Tax Department on time. If you reply to the notice with delay, then the matter may get worse. Further, if the proof of exemption has been sought from the Income Tax side, taxpayers will have to produce all supporting documents such as any relevant receipts, vouchers, invoices or any other documents. After receiving the notice, taxpayers get 15 days to respond. However, if they are unable to respond within the prescribed time limit, they can request the local assessing officer to extend the time limit.
Try to respond on time
It is advisable to respond to the notices of the Income Tax Department on time. If you don't respond on time, it can have serious consequences. This information about what the notice is about is very important. In such a situation, all the documents should be collected. You can take advice from any chartered accountant. Prepare a draft answer, then submit your answer in the manner given in the notice.
