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IDS: Income Tax Department is now sending messages to assesses assuring full confidentiality!

As the last date of the Income Declaration Scheme 2016 is approaching fast, IT Department is trying all measure to make this scheme a success.The IT Department has started sending text messages assuring full confidentiality to assessees who want to come clean on their unaccounted wealth.“The information received under Income Declaration Scheme 2016 shall be confidential and shall not be shared with anyone,” read the text message from the I-T department.Source: http://www.dnaindia.com/money/report-ids-cbdt-sends-out-sms-to-assessees-promises-confidentiality-2256690

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All that you should know about different types of Income Tax Notices!

Have you ever been petrified at the sight of an income tax notice in your name!! It will come as a relief to you that not all notices are meant to scare you. There is a reason for every notice to be issued by the income tax department (“department”). Some notices give you information [like an intimation under section 143(1)], some warrant information from your end [inquiry under 142(1)]and some communicate that an audit is required by the tax department with respect to the income position declared in your incomeSEE DETAILS

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