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Advance Tax Notices

Income Tax Department Bold Move: Notices to 5 Lakh Taxpayers for Low Advance Tax Payments

September 5, 2023
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      Home Business Finance

      Income Tax Department Bold Move: Notices to 5 Lakh Taxpayers for Low Advance Tax Payments

      by Daman Jain
      September 5, 2023
      in Finance
      Reading Time: 2 mins read
      Advance Tax Notices

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      The Income Tax Department of India has sent notices to over 5 lakh taxpayers between April and August 2023 for having zero or low advance tax payments.

      Income Tax Department Sends Notices to 5 Lakh Taxpayers

      5 lakh taxpayers get I-T Dept notices for zero or low advance tax

      Read Also: Horrific Case: Woman Allegedly Gang-Raped by Husband and Sons Over Three Months in Mumbai.

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      The IT department has sent these notices after analyzing the data from the previous fiscal year and the data from the first quarter of the current year. The analysis shows that the taxpayers have paid lower taxes than higher-value spending, which leads to a mismatch. The actions have been taken just a few days before the second installment of advance tax due by 15 September 2023.

      To get more out of our exclusive news, Follow us on Facebook and Instagram.

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