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Salaried (Individual)

What is scrutiny assessment?

The tax department examines the returns filed and if it has any reason to believe that the information declared by the assessee is incorrect or incomplete then the case is taken up for scrutiny assessment. The assessee is informed through issue of a notice and is supposed to take the required action as communicated by the department.

Reasons for getting Income Tax Notices

  • Not filing of return
  • Mismatch in tax rate
  • High-value transactions
  • Investment in the name of a spouse
  • Scrutiny Notice

WHY YOU GET I-T NOTICE?

Return not filed or delayed: Your employer deducted tax from you salary. However, you did not file the return. In such a case, the tax department will send a notice asking you to file the return. The notice has to be responded to within the given time. Otherwise, you may be penalised.

Maths behind selection of cases for scrutiny

There are two types of scrutiny assessments: Manual and compulsory scrutiny cases. While the reasons for manual selection for scrutiny are case specific and can be avoided with little care on part of the assessee, the compulsory selection can’t be prevented.

Type of Income Tax notices

  • Notice u/s 143(1) – Intimation
  • Notice u/s 139(9) – Defective Income Tax Return
  • Notice u/s 142(1) – Inquiry Notice Before Assessment
  • Notice u/s 143(2) – Scrutiny Assessment Notice
  • Notice u/s 156 – Demand Notice
  • Notice u/s 148 – Commence Proceedings
  • Notice u/s 245 – Intimation to set off Demand and Refunds

Non-payment of TDS by misusing Form 15G & Form 15H

TDS is applicable at the rate of 10 percent on all bank deposits once the interest amount crosses Rs 10,000 per financial year. However, if your income is below the taxable limits, you can avail a waiver of the TDS deduction by submitting Form 15G to the bank. A similar waiver also exists for senior citizens, who need to submit Form 15H to the bank. If you misuse this section with the motive to evade taxes, you could be slapped with a notice.

Non-disclosure of assets for wealth tax

If you own assets whose net value is over Rs 30 lakh, you are liable to pay wealth tax at the rate of 1 percent of the amount that is above the Rs 30 lakh limit. If you do disclose such assets that you own or do not pay taxes on them, there is a good chance that you might receive an IT notice.

How to deal with tax notices?

Do not panic, simply oblige the taxman. Respond to the notice, and furnish the documents and information the department has sought. File a rectified return and pay the tax due, if any, within the stipulated period.

In some cases, tax officials may ask you to be present in person for checking returns filed by you. You can either represent your case yourself or authorise a tax expert to do so. The latter option is better as a professional will fully understand each and every explanation sought and respond appropriately.

HOW IT WORKS

1

SELECT A PACKAGE

  • Select a service that you require
  • Choose a suitable Package or Plan depending on the Work involved the Services required
2

REGISTER

  • Submit or eMail your Contact details or provide the Client Registration Form
  • Provide basic documents (relevant KYC)
  • Make payment (Gateway, NEFT, Cheque, or Cash)
3

DOCUMENTATION

  • Speak to our Advisor
  • Submit your remaining documents / details by any of the following modes:
    • eMail to info@TaxAssist.in
    • Courier to HelpDesk
    • Visit to our Branches
    • or even WhatsApp
4

FINALIZATION

  • Once we have finalised, we will send you the Draft for Approval
  • Once approved & submissions made, you will receive Final Documents from us by eMail, courier or visit.

DOCUMENTS

To initiate the process, we will request you to provide us the following basic documents:
(We donot require any original documents. The documents can either be Emailed, Couriered, Physically delivered to our branches or even Whatsapped to us)

    Resident (Individuals)
  • PAN
  • Passport
  • PIO, OCI (if applicable)
  • Aadhaar Card
    Resident (Corporates)
  • PAN
  • TAN, VAT, GST
  • MOA, AOA
  • Incorporation Certificate
    NRI's & Expats
  • PAN
  • Passport
  • PIO, OCI, CDC (if applicable)
  • Aadhaar Card


Showing 1 to 8 of 8 (1 Pages)

EXPRESS ONLINE (SALARIED ASSESSEE)

Suitable for individuals having an income less than 10 Laks p.a and interest income only where there is an expected  tax refund of less than Rs 10000.Express Online is the perfect package for salaried individuals...

₹2,500.00
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Silver (SALARIED ASSESSEE)

Suitable for individuals having an income of Rs 10-20 Laks p.a and interest income only OR an investment portfolio of less than Rs 20 Laks...

₹5,000.00
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GOLD (SALARIED ASSESSEE)

Suitable for individuals having an income between Rs 10-20 Laks p.a Or an investment portfolio between Rs 20-50 Laks...

₹10,000.00
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DIAMOND (SALARIED ASSESSEE)

Suitable for individuals having an income of more than Rs 20 Laks p.a OR an investment portfolio of more than 50 Laks OR a net worth of more than 3 crores having CG from sale of Real Estate OR planning to relocate to/from India OR having income from ..

₹20,000.00
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PLATINUM (SALARIED ASSESSEE)

Premium personalised services for TDS Advisory, Filing, Certifications & Compliance with personalised attention throughout the transaction...

₹40,000.00
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TITANIUM (SALARIED ASSESSEE)

Suitable for individuals having an income of more than Rs 20 Laks p.a OR an investment portfolio of more than 50 Laks OR a net worth of more than 3 crore OR having CG from sale of Real Estate OR planning to relocate to/from India OR having an income ..

₹80,000.00
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new
CUSTOMIZED PLAN (SALARIED INDIVIDUAL)

CUSTOMIZED PLAN (SALARIED INDIVIDUAL)

Suitable for individual having form 16 with income of less than Rs 10 laks p.a and interest income only...

₹0.00
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Showing 1 to 8 of 8 (1 Pages)

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