IT Department Reminds Taxpayers to Reply to Notices by 31 March
Sushmita Goswami | Mar 10, 2022 |
IT Department Reminds Taxpayers to Reply to Notices by 31 March
The income tax department has asked taxpayers whose cases are being reviewed to respond by March 31, failing which the department will decide the dispute based on material on file. “Gentle reminder to taxpayers whose cases are under scrutiny, to be completed by 31.03.2022! Pl ensure timely compliance with notices issued by ITD calling for information/details. Failure to comply with the notice may result in Best Judgment assessment based on material on record.” The Income Tax Department tweeted.
Section 144 of the I-T Act allows tax authorities to assess the total income or loss to the best of their ability and determine the assessee’s tax liability.
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