Section 143(1)(a) of income tax is amended to expand the scope of adjustment which can be made while processing income tax return filed for the Asst Year 2017-18 and thereafter. Income tax department is empowered to make following adjustments before processing income tax return. Any arithmetical error in the return …
Read More »How to handle notice received for Non-Filing of Income Tax Return – Asst Year 2013-14
Income tax department has started sending notices to non-filers for the assessment year 2014-15. The income tax department has been capturing information on financial transactions /activities relating to you through Non-filers Monitoring System (NMS). This year NMS has identified 58.95 lakhs non-filers (Cycle 4 -2015) with potential tax liabilities for AY …
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