Income Tax Notice: According to the recently released update, the Income Tax Department has issued notices to 22 thousand income taxpayers. In fact, the deduction claims made by these taxpayers in ITR are not matching with the figures of the Income Tax Department.
New Delhi: The Income Tax Department has issued information notices to 22 thousand income taxpayers in the last 15 days. These notices have been given because the information given by them in the income tax returns did not match with the data of the Income Tax Department.
Those to whom notices have been issued include salaried taxpayers, Hindu Undivided Families (HUF), High Net Worth Individuals (HIN) and trusts. All information notices have been sent for ITRs filed for assessment year 2023-24.
The tax deduction claimed by all of them in the income tax return is not matching with the Form 16 or Annual Information Statement or the data of the Income Tax Department.
The Income Tax Department says that if the income taxpayer does not respond to this information notice or is unable to give any explanation, then the Income Tax Department will send him a demand notice.
The Income Tax Department said that if an income taxpayer has tax liability, he can pay the outstanding tax along with interest and file updated returns.
Who all received notices?
According to a report, the Income Tax Department has sent information notices to 12 thousand salaried taxpayers. Information notices have been sent to such salaried income taxpayers whose difference between the income tax deduction claimed and the data of the department was more than Rs 50 thousand.
Apart from this, the Income Tax Department has also sent notices to 8 thousand HUF taxpayers. There is a difference of more than Rs 50 lakh between the income return filed by them and the figures of the Income Tax Department.
The Income Tax Department has also given notice to 900 high net worth individuals. There is a difference of more than Rs 5 crore between the income declared by them in their income tax returns and the income assessed by the department.
There is a difference of more than Rs 10 crore between the income shown in the income tax returns of 1,200 trust and partnership firms and the department’s data. Information notices have also been given to them.
Flaws in ITR of two lakh taxpayers
According to preliminary data of the Income Tax Department, deficiencies have been found in the income tax returns of 2 lakh income taxpayers. The income or expenditure given by them in the ITR or the bank account details are not matching with the data collected by the department.
The Income Tax Department has collected this data from these income taxpayers on the basis of linked bank and UPI transactions.