Income Tax Notice: Income Tax Department has sent information notice to 22 thousand taxpayers. The ITR filled by these people is a mismatch because the amount claimed is not found correct.
Income Tax Department Notice For Mismatch ITR: Income Tax Department has sent information notice to 22 thousand taxpayers. This includes salaried and high net worth individuals and trusts. The Income Tax Department has said that the claim of deduction of such people has not matched with Form 16 or Annual Information Statement or according to the figures of the Income Tax Department.
According to the Economic Times report, all this information notice has been sent for the ITR filled for the assessment year 2023-24 and has been sent for the last 15 days. The department has sent about 12,000 such notices to salaried taxpayers, where the difference between the deduction claimed by them and their own data was more than 50,000.
In addition, the Income Tax Department has sent notices to 8,000 HUF taxpayers, where the income mismatch between the income return file and the Income Tax Department’s figure was more than Rs 50 lakh. The income disparity among 900 high net worth individuals was Rs 5 crore and above. And in 1,200 trust and partnership firms, the income disparity was Rs 10 crore and above.
According to the primary data, the expenditure or bank account details of 2 lakh taxpayers do not match with the data of the Income Tax Department. According to the Income Tax Department, the expenditure or bank account details of these taxpayers are not as per the transaction claim related to their bank or UPI.
The Income Tax Department said that action will be taken on the demand notice if the taxpayer does not respond to it or cannot provide any explanation. The Income Tax Department said that taxpayers can pay the dues with interest and file updated returns.
The data is being analyzed in case of corporates, trust and partnership firms and small businesses, the official said. The second official said that digitization has prevented tax evasion and is now being done to make IS more comprehensive and elaborate, so that tax evaders can be reined in.
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