‘AIS for taxpayers’ app launched for all your tax related needs

The AIS app is a free mobile application, launched by the income tax department and is meant to provide a comprehensive view of the Annual Information Statement (AIS). It offers a collection of information pertaining to a taxpayer. The information provided by ASI includes interest, dividend, mutual fund transactions, securities transactions, foreign remittance information, and…

Why these small tax payers get IT notices?

Updated on January 1, 2023 Taxpayers generally receive I-T notices under Section 139(9), 143(1), 143(2), 143(3), 245, 144, 147, 148, 156 (notice of demand) of the Income Tax Act, 1961, due to non-filing of ITR, claiming of inauthentic tax refund, hiding of taxable income, computing excessive tax losses, long term capital gains (LTCG), scrutiny, among…