Tax uncertainty on trademark transfers continues to create confusion amongst foreign companies
BOI has stated that it is currently in the process of lodging an appeal with the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC) against the order.
A notice from the I-T Department doesn't necessarily mean you've done something wrong. It could be a routine communication but it's essential to act promptly.
Section 143(1)(a) of the income tax act deals with different approaches to assessment of tax returns filed by a taxpayer.
Here is how to enjoy tax exemption on HRA and at the same time save yourself from future notices and penalty from Income Tax Department
Just because a notice has come from the tax department it does not mean that the individual tax payer has made some mistake or that they have defaulted.
Getting an income tax notice is not uncommon nowadays. Many get a shock when they receive a notice. It is better to ponder over below points while tackling the situation.