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Back up claims with documents: How to respond to I-T notice post note ban

Be careful in your replies and keep documents to establish trail of banned notes you deposited

Sanjay Kumar Singh 

If you are among the 1.1 million of the 1.8 million who have not responded to the first round of emails and SMS messages of the Income Tax (I-T) department, the latter would have dispatched another letter to you.  Media reports suggest verification notices may also be sent out to a new set of people this month. If your initial replies are found to be dissatisfactory, you may have to answer follow-up queries from the taxman. All this makes it essential that you understand how the taxman will verify your explanations, the level of in-depth enquiries he can conduct, and the need ...


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First Published: Mon, March 06 2017. 08:50 IST