If you submitted an ITR this year as well, you will be astonished by this information. Approximately 22,000 taxpayers, including members of the salaried class, high net-worth people, trusts, and Hindu Undivided Families (HUF), have received notification letters from the Income Tax Department.
The Economic Times said
that the Income Tax Department issued this notification after discovering a discrepancy between the deduction claimed in the return and the provided information. According to the ET report, the Income Tax Department has access to Form-16, the Annual Information System (AIS), or the data of the individuals to whom the notice has been delivered. The notice relates to assessments made for the years 2023–2024. The last 15 days have seen the delivery of all notices.
ITR – Around 12,000 notices have reportedly been given to the salaried class
according to the report. The tax deducted and the department’s records allegedly differed by more than Rs 50,000, according to the return. About 8,000 people who filed ITR under the Hindu Undivided Family (HUF) designation also received notices. Between their returns and the information made available by the Income Tax Department, there was a difference of more than Rs 50 lakh.
There were 900 high-net-worth individuals with disparities of at least Rs 5 crore
The disparity for 1200 trust and partnership businesses was greater than Rs 10 crore. According to the study, these notices complete the task of finding and fixing inconsistencies in taxpayers’ tax declarations.
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