How to deal with an I-T notice

How to deal with an I-T notice

Got a notice from the tax department? Before panicking, find out exactly why the notice has been sent to you:

1. 
Figure out the type of notice received

Complete v/s limited scrutiny notice: In case of complete scrutiny, the I-T officer may request for any information or documents in connection with your tax return. As the words denote, in a limited scrutiny, the I-T officer raises a few questions

Intimation for processing of I-T return: Check whether all income and taxes mentioned in the intimation match with the return filed and whether any balance tax is payable or a refund is due to you

Adjustment of refund against demand of prior years: Check the reason for which a demand has been raised

Generally, a scrutiny notice is served within 6 months from the end of the FY in which return is filed

3. Identify the type of response required

The notice will specify whether you can file your response online — on the e-filing portal under ‘E-proceedings’ — or via email. You need to file the response within the time limit set in the notice or else you may need to pay a penalty of 10,000

Source by indiatimes…

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