Tax notice: Donít fret, take corrective steps

May 30 2014, 13:12 IST
Comments 0
SummaryHave you received a notice from the tax authorities lately? If yes, donít be surprised ó they have recently been on an aggressive drive to ensure greater compliance.

committed a crime. Even a minor error in return can invite a notice from the tax authorities. You must meet the tax officer with all the relevant documents as directed. File a rectified return and pay the tax due, if any, within the stipulated period. However, if complexities are involved, it is better to consult an expert, as a professional will fully understand each and every explanation sought and respond appropriately.

Note that the purpose of a notice is to collate information and details to form an opinion. It is of utmost importance that a notice from tax authorities is duly replied under all circumstances.

The writer is managing partner, Nangia & Co. With inputs from Neha Malhotra

Single Page Format
Ads by Google

More from Personal Finance

Reader´s Comments
| Post a Comment
Please Wait while comments are loading...