Once you have verified your income tax return after submitting it, the income tax department cross checks the income declared and tax paid by you with the information available with them.
If your tax calculations match that made by the assessing officer, then you will receive an intimation from the department accepting your tax return under section 143(1).
However, if it does not match, you will either get a tax refund notice or an outstanding tax demand notice. You will have to go to an income tax office on the date and the time specified in the notice.
However, the government is trying to make this procedure taxpayer friendly by providing e-assessment methods. You can respond to the tax notices by logging in to your account on the e-filing website
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Most people would have filed their tax returns by 5 August this year, but several may not have been able to do so for reasons beyond their control.
While being a non-resident or having been out of the country is a common reason, there are other factors like death, mental disability, lunacy or being a minor, which necessitate the filing of returns by someone other than the assessee.
However, not just anyone can log in to the person’s account and file the tax returns.
Source: Economic Times
The Income Tax department has clarified that the deadline to link PAN with Aadhaar for taxpayers is unlikely to be extended beyond August 31, 2017. Therefore, even if you have filed your return by the ITR filing deadline of August 5 but have not linked your PAN and Aadhaar latest by August 31, your Income Tax Returns (ITR) won’t be taken up by the department for processing.
However, if you are not required to file ITR as per income tax laws, i.e., your total income is below the exem ..
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