Be on the lookout for emails from the Income Tax Department regarding your larger financial dealings. These are friendly ...
Emails about high-value transactions in Annual Information Statements nudge people on compliance processes, say experts ...
Every year several taxpayers wait anxiously for their income tax refunds to get credited to their bank account. For many, the refund is not just a financial formality but a crucial cash flow component ...
The Income Tax Department has exposed a nationwide network of agents facilitating fraudulent tax deductions and exemptions, leading to illegitimate refunds. Sophisticated data analytics and ...
The Income Tax Department has intensified its data-driven ‘NUDGE’ campaign, alerting taxpayers about mismatches between ITRs ...
Most income tax notices involve minor mismatches or routine verification and can be resolved by submitting clarifications or documents. Key takeaway: timely response avoids unnecessary ...
If you claimed tax benefits by showing donations that were never made, the Income Tax Department may already be watching.
The CBDT has nudged taxpayers to voluntarily withdraw bogus deduction claims after uncovering fake donation rackets and ...
Submit response with supporting proof such as challans, Form 16, etc.
Advance tax refers to the system of paying income tax in parts during the financial year instead of settling the entire ...