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bharo
fir
notice
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do
😏
If
you
ever
received
an
IT
notice,
it
can
be
a
cause
for
concern,
but
don't
panic!
Its
a
common
way
for
the
department
to
communicate
with
taxpayers.
But
what
exactly
are
these
notices,
and
why
do
you
receive
them?
Here's
a
simplified
explanation:
Income
tax
notices
come
in
different
types,
each
serving
a
specific
purpose:
1️⃣
Intimation
notices:
These
are
essentially
informational,
keeping
you
updated
about
your
tax
filing
status,
tax
payments,
or
any
other
relevant
details.
2️⃣
Demand
notices:
These
indicate
that
you
owe
taxes
to
the
government
and
specify
the
amount
due.
They
might
arise
due
to
miscalculations
in
your
tax
return,
underpayment
of
taxes,
or
late
filing
penalties.
2️⃣
Penalty
notices:
As
the
name
suggests,
these
are
issued
when
you
fail
to
comply
with
tax
regulations,
such
as
not
filing
your
return
on
time
or
not
paying
taxes
due.
▪️
Notices
also
reference
specific
sections
of
the
Income
Tax
Act,
which
explain
the
legal
basis
for
the
notice
and
the
corresponding
consequences.
Understanding
these
sections
can
help
you
grasp
the
situation
better.
▪️
Verifying
the
authenticity
of
the
notice
is
crucial!
🔐
Scammers
sometimes
use
fake
notices
to
trick
people
into
revealing
personal
information
or
making
payments.
The
Income
Tax
department
provides
a
facility
on
their
website
to
verify
the
genuineness
of
a
notice,
check
the
video
to
know
the
steps.
Remember,
receiving
a
notice
doesn't
necessarily
mean
you're
in
trouble.
But
if
you
ignore
it
then
you
might
have
to
pay
interest
on
outstanding
tax
plus
₹10
lakh
penalty.
If
you
still
dont
comply
then
you
can
get
jailed
for
1
year.
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