How to handle Income tax Notice

3
finance

Summary

If you receive any demand notice from the income tax department, the first thing I will say to God is that you are going to see any such nonsense thing, but you cannot be sure so of course If you are an income taxpayer.

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Introduction

My name is CA Arun Tiwari and in this article, I will tell you how to handle Income tax demand. If you receive any demand notice from the income tax department, the first thing I will say to God is that you are going to see any such nonsense thing, but you cannot be sure so of course If you are an income taxpayer. Mainly today, tomorrow face this situation where one day you wake up, you check your income tax portal and you see there is some demand pending. You open up and you find there is a bomb and if something comes like that. Then don’t be nervous. Just. What I’m explaining to you in this article is that everything is working out, smooth like that.

So let’s begin the first thing before I tell you about it. That is how to handle income taxes. Let’s understand what income tax demands. So what is the word difference? Is there between the income tax notice and income tax demand? So, income tax demand is concluded. That means it starts with the income tax notice. So when you receive an income tax notice, it’s kind of a summon where they will ask you to give documents information.

There will be just an assessable order. But suppose,  they find out that you have some hidden income or you know something, then with the income tax assessment order, there will be another document coming to you which is a demand in which they will simply ask me to pay this much amount along with interest and penalty. So, this is a difference between income tax notice and income tax demand.

High Pitched Demand

Once you get income tax demand that means there is no chance of replying and getting it rectified. Charging sheet submitted to port. So once the Department makes the investigation then you have 2 options, you pay the income tax demand or go for appeal. Now let me tell you how to handle the income tax demand and how to get out without paying unnecessary taxes, unnecessary penalties because in many cases we have seen, especially in the case of middle-class tax players like you and me there is high pitch demand. Now, what is high pitch demand that will be explained later in this article but before that, I’ll tell you how you can check that there is an income tax notice or demand is pending in the income tax portal. So, if want to know how you can check that then click on below link

https://aktassociates.com/business-compliance/tax-compliance/tax-notice-reply