In this video, we will be understanding about the Income Tax Notice issued under section 133(6). This notice u/s 133(6) is mainly issued by the income tax department to ask for the evidence and proof of the deductions and exemptions claimed by the taxpayer in his/her ITR.
If excessive or Fake deductions or exemptions have been claimed in the Income tax return of the assessee, then department might ask for the information regarding the exemption and deductions documentary evidences. If evidence is not produced, then 200% penalty u/s 270A might be imposed. Also, you are given 10 days time limit to response against this notice and after that Rs. 500 Per Day penalty is being charged. Therefore, it become very important that we answer the notice within due time.
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Iss video me hum smjenge ki Income tax ka Section 133(6) kya hota hai. Aur section 133(6) Notice aa jaane pe kaise uska jawab dena hota hai. Aur, agar jawab nhi diya jaata hai then kya kya penalty lag skti hai. Agar ITR-U ke through excess refund ya tax amount wapas krna ho to ITR-U file krne ka kya process ho skta hai. Iss video me inn saare topics ko puri trike se anlayse krenge.
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Here is the Format for submitting the Response (This can be changed as per your personal requirement):
"Dear Sir/Madam,
This is to bring to your kind attention that in pursuance of notice u/s 133(6) vide DIN No. ______________________________________, I have filed the Updated Return for AY 2023-24, AY 2022-23, AY 2021-22 considering all the correct details. The differential tax amount along with the interest and penalty as per section 139(8A) has also been paid.
The ITR Acknowledgements, ITR Forms and Tax Payment challan copies are attached herewith. You are requested to please consider the same and requesting the respected authorities to please consider this as the satisfactory compliance.
Best Regards,
[FULL NAME]"
[PAN - _____]
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*******DISCLAIMER********
This video is merely a general guide meant for learning purposes only. All the instructions, references, content, or documents are for educational purposes only and do not constitute legal advice. We do not accept any liabilities whatsoever for any losses caused directly or indirectly by the use/reliance of any information contained in this video or for any conclusion of the information. Prior to acting upon this video, you're suggested to seek the advice of your financial, legal, tax, or professional advisors as to the risks involved may be obtained and necessary due diligence, etc may be done at your end.
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Topics covered in this video:
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6 сен 2024
