When you get a sudden or unexpected notice from the income tax (I-T) department, this could be due to several reasons. For example, you might not have filed an income tax return on time. Or, you might not have reported income correctly, or you may have reported excessive losses, or there could be calculation errors.
“Taxpayers generally receive I-T notices under Section 139(9), 143(1), 143(2), 143(3), 245, 144, 147, 148, 156 (notice of demand) of the Income Tax Act, 1961, due to non-filing of ITR, claiming of inauthentic tax refund, hiding of taxable income, computing excessive tax losses, long term capital gains (LTCG), scrutiny, among others,” says Suneel Dasari, founder, CEO, EZTax.in, an online income tax filing portal.
Here are the things you could do when you receive a sudden I-T notice: