Income Tax Notice! Check If You Have To Do This

Income Tax Notice has been sent by the department to all the taxpayers whose cases are pending under scrutiny. The department has given last date of March 31, 2022 to comply with the notice. It has been requested that everyone who has received the notice under scrutiny cases must ensure a timely compliance.

CBDT even tweeted about the matter and said that if you fail to comply with the notice then department will do Best Judgment Assessment on the basis of existing record.

The tweet said, “Gentle reminder to taxpayers whose cases are under scrutiny, to be completed by 31.03.2022! Pl ensure timely compliance with Income Tax notice issued by ITD calling for information/details. Failure to comply with the notice may result in Best Judgment assessment based on material on record.”

Income Tax Department has issued refunds worth over Rs 1.86 lakh crore to more than 2.14 crore tax payers across the country as of last week update. This number includes 1.74 crore that has been refunded by March 31, 2021 amounting to Rs 35296 crore.

Income tax department tweeted, “CBDT issues refunds of over Rs. 1,86,677 crore to more than 2.14 crore taxpayers from 1st Apr,2021 to 07th March,2022. Income tax refunds of Rs. 67,442 crore have been issued in 2,11,76,025cases &corporate tax refunds of Rs. 1,19,235 crore have been issued in 2,31,654cases(1/2)

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This includes 1.74 crore refunds of AY 2021-22 amounting to Rs. 35,296.86 crore. (2/2)”

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Siddhant Baranwal

Siddhant is a Content Creator. He has been doing this for past three years and have managed to gain good attention of audiences for his work. He is an active reader and has huge respect for art and theatre.

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