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IT raids reveal discrepancy in books of telecom equipment co in NCR

IT raids reveal discrepancy in books of telecom equipment co in NCR
prokerala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prokerala.com Daily Mail and Mail on Sunday newspapers.

Income Tax Department conducts searches in NCR

Income Tax Department conducts searches in NCR
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Income tax notice I 7 reasons you may get income tax notice & how to respond

Updated Jul 25, 2021 | 06:33 IST A discrepancy in TDS amount error, mismatch of information in the ITR filed, random scrutiny by I-T department, ITR not filed before the due date, high-value transactions, among others 7 reasons you may get income tax notice and how to respond  |  Photo Credit: Thinkstock The Income Tax Department processes the Income Tax Returns (ITRs) filed by assesses and send the intimation under Section 143(1) of the Income Tax Act, 1961. It is usually after this time that a taxpayer gets a notice, it at all from the taxman. If you happen to get a notice from the I-T Department, there is no need to panic. There are mainly a few reasons why someone receives such notice. It could be due to tax deducted at source (TDS) calculation error, discrepancies in the information provided by the assessee in the ITR, random checks by the department, missing the due date of filing ITR, high-value transactions, non-disclosure of incom

IT Return: Complete these Income Tax-related tasks before deadline - Details inside

Updated: Jul 24, 2021, 10:28 AM IST In the wake of the ongoing COVID-19 pandemic, the Finance Ministry has extended a host of timelines for compliances for income tax to ease the complications of taxpayers. The government also announced that tax exemption will be given for expenditure on COVID-19 treatment and ex-gratia in case of death. However, there are certain things related to Income Tax Returns that need to be completed before July 31. Check them out here. - TDS certificate, known as Form 16 was required to be provided to the employee by June 15, 2021. However, it has now been extended to July 31, 2021. The due date for the issue of the TDS Certificate for tax deducted under section 194-IA in the month of May 2021 is July 15, 2021. Meanwhile, the quarterly statement of TDS needs to be deposited on July 31, 2021.

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