Mantra & Co. - Advocate & Tax Consultant
Introduction In the process of tax administration, errors may sometimes occur either on the part of the taxpayer or the tax authorities. These mistakes may arise due to incorrect calculations, mismatch of information, or clerical errors in the assessment order.…
Introduction Filing an Income Tax Return is only the beginning of the compliance process. After the return is processed and verified through the department’s automated systems and risk parameters, the Income Tax Department may initiate an assessment proceeding to examine…
Introduction Reassessment is one of the most sensitive areas of income tax proceedings. It involves reopening of completed assessments on the ground that income has escaped assessment. Such proceedings require careful handling, both legally and strategically. Watch the Complete Video…
Introduction In tax practice, non-compliance is rarely a neutral event. It is often the starting point of escalation. Many taxpayers and even junior professionals mistakenly assume that ignoring a notice merely delays proceedings. In reality, procedural non-compliance may trigger statutory…
Introduction In income tax proceedings, timelines are not procedural formalities but they are statutory obligations. Failure to observe prescribed time limits may lead to adverse consequences, including ex-parte assessment, penalty, demand confirmation, or loss of appellate rights. For tax professionals,…
Introduction Receiving an Income Tax notice does not automatically imply wrongdoing. However, misreading or misunderstanding a notice can lead to procedural errors, delayed responses, or unnecessary escalation. For tax professionals, the ability to properly analyse a notice is a critical…
Introduction Receiving an Income Tax notice often creates unnecessary anxiety among taxpayers. However, not every notice indicates wrongdoing or serious legal exposure. In many cases, notices are automated communications triggered by data validation systems, routine scrutiny, or compliance checks. Understanding…
Introduction Filing an Income Tax Return (ITR) is not merely a compliance formality. It is a legal declaration of income, deductions, tax liability, and financial disclosures. In the current data-driven tax administration system, returns are processed through automated verification tools,…
Introduction The Income Tax Department relies heavily on data analytics and automated cross-verification systems. After filing a return, the information disclosed by a taxpayer is compared with data collected from various reporting entities. This article explains how AIS, TDS records,…
Introduction Many taxpayers believe that once an Income Tax Return (ITR) is filed, the compliance process ends. In reality, return filing is only the beginning of the Income Tax processing cycle. After submission, the Income Tax Department processes the return…