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Respond to Tax Notice

A tax notice is issued by the income tax department when assessing officer finds any discrepancies in the original or revised tax returns. Since tax notice holds a legal entity due to which responding to it is crucial otherwise consequences could be severe like assessee could be charged with fine of Rs 10,000 for each failure under the section 272A of the Income Tax Act.

 

Procedure

There are certain steps that need to be followed while responding to tax notices which are as follows.

  1. Verifying the validity of notice is necessary to make sure that notice stands valid like time of its issuance, relevant assessment year and section under which it is issued.
  2. The assessee shall gather all the documents demanded to be procured by the tax department and other relevant things required by the assessing officer in order to early preparation for the reply.
  3. Even if the assessee is unable to collect all evidential documents required, replying to notice on time should be the first priority.

 

Documents required

When responding to the notice, the assessee has to gather all the documents as asked to be procured by the department and the assessing officer. Here is the list of documents that would be required in this case as follows.

  1. General documents-it includes documents like Aadhar number, PAN number, bank account details, original return etc.
  2. Documents for income from other sources
  3. Details of tax saving investments
  4. TDS certificates like Form 16A, 26AS, etc.

FAQ’s

  1. What are the consequences of not responding to tax notice?

Since tax notice is a legal entity and not responding to it is punishable, and the degree of punishment could range from giving fine to imprisonment.

        2- What if I am unable to collect all the documents on time as demanded?

It is necessary to respond to notice on time even if the assessee is unable to collect all the documents as required. Responding to the given time is what matters, and document issue could be rebated in the future.

Why Choose Us?

Our firm has an experience of 20+ years in Direct Taxes. We have a team of CAs that are dedicated to the sole practice of Income Tax Act and therefore, you get the most professional advice possible.

Our team is an expert in drafting legal replies and we take utmost care of all the minute details of the case. Or team has an extensive experience of handling cases at not just the Income Tax Officer level but also CIT and ITAT. Rest assured, you are in good hands.

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