Income Tax Notice: Do you want to avoid income tax notice? Then know these important rules..

Income Tax Notice: The Income Tax Department has intensified its action before the deadline of filing ITR on September 15. The Income Tax Department is sending notices to people using Artificial Intelligence or AI these days. This is happening with those accounts that have some deficiency. Let us tell you about some methods by which you can avoid unnecessary notices.

Many instructions related to money transactions are given to banks by the Income Tax Department. For example, if you have more than Rs 10 lakh in your savings account in a year and your big transaction is not known, then the department can send you a notice.

Adopt these methods
For this, it is important that whenever you transact money, you keep some things in mind. In the report of NBT, CA tells that while making a big transaction, keep in mind where that money has come from. Who has given it and why? Because the bank can give this information to the department, and you can be given an income tax notice.

Apart from this, if you make big transactions continuously, then you have to be careful. Because if there is a transaction of more money, then the bank may get suspicious, and it can give information about it to the tax department. If any relative sends you more than 10 lakh rupees, then you must keep their information. He can ask for its details from you at any time.

Get PAN and KYC done.

You should have the details of the PAN issued by the bank. Along with this, definitely complete the KYC process. At the same time, the most important thing is that the bank keeps an eye on all your activities. If it finds any unusual transaction, then it can ask you. It can also send a notice. This is a normal process.

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