 "ITR, Tax, income tax, income tax returns")
Around 22,000 taxpayers have received intimation notices after the Income-Tax (I-T) Department identified discrepancies between the deductions claimed by taxpayers in their income-tax returns (ITRs) and the information available with the department. These intimation notices have been sent under Section 143 (1) of the I-T Act and are for ITRs filed for the assessment year 2023–24.
Says Ankit Rajgarhia, principal associate, Karanjawala & Company, Advocates: “These discrepancies can occur when the deductions mentioned in the taxpayer’s Form 16 (a salary certificate issued by the employer), Annual Information Statement (AIS), or the data the I-T Department has on record do not match.”
Shivani Bhushan, senior associate at TAS Law, explains that these intimation notices have been sent to salaried individuals, high-net-worth individuals, Hindu
