Income tax department
Income tax notice: The Income Tax Department has intensified its action before the deadline to fill the ITR of 15 September. The Income Tax Department nowadays is sending notices to people using Artificial Intelligence or AI. This is happening with the same accounts in which there is some deficiency. Let us tell you about some methods, by following which you can avoid unnecessary notice.
Several instructions related to money transactions are given to banks by the Income Tax Department. For example, if your savings account has more than 10 lakh rupees in a year and your big transaction is not being detected, then the department can send notice to you.
Follow these methods
For this, it is important that whenever you transact money, keep some things in mind. In the NBT report, CA says that while doing big transactions, keep in mind where the money has come from. Who has given it? Because it can inform the bank department and you can be given the notice of income tax.
Apart from this, if you do big transactions continuously, then you have to be careful. Because if there is more money transaction, then the bank can be suspicious of it and he can inform the tax department. If any relative sends you more than 10 lakh money, then you must keep information about it. You can ask for his details anytime.
Get PAN and KYC
You should have details of PAN issued to the bank. Along with this, make sure to defeat the process of KYC. At the same time, the most important thing is that the bank monitors all your activities. If he gets any unusual transaction, he can ask you. Can also send notice. This is a common process.