Got a msg from I-T dept? Big clarification issued - what taxpayers need to know
The Income Tax Department clarified that recent communications to taxpayers about transaction discrepancies are advisory, aiming for voluntary compliance. These messages highlight gaps between filed returns and reported information, encouraging review of Annual Information Statements and timely correction of returns to avoid enforcement.
The Income Tax Department clarified that recent communications to taxpayers about transaction discrepancies are advisory, aiming for voluntary compliance. These messages highlight gaps between filed returns and reported information, encouraging review of Annual Information Statements and timely correction of returns to avoid enforcement.
