URGENT TAX DEADLINE ALERT: Respond to Income Tax Intimations by December 31 or Face Penalties!

Overview

Taxpayers are increasingly receiving system-generated intimations under Section 143(1)(a) due to discrepancies between filed returns and Annual Information Statement (AIS) or Form 26AS. A response, either clarification or a revised return, is mandatory by December 31. Failure to comply may result in disallowed credits, deductions, penalties, and interest, as the Income Tax Department enhances its compliance and data validation efforts.