Dear Sir/Madam, My son has received a mail from income tax department. The subject line is as above. Other contents of the mail are as follows: We appreciate that you have filed your Income Tax Return and contributed towards the progress of Nation. However, the Income Tax Department has received information on high value transactions relating to (PAN NUMBER) for Financial Year 2020-21. On the basis of the AIS the income tax department has notified that there are certain income items such as interest paid/credited on deposits. The TDS deducted according to the AIS is Zero. The information is correct. My son has paid the income tax for the mentioned interest income items in the Other Sources income section. Actually there is no pending tax to be paid.
While attempting to give feedback in the compliance portal there is no appropriate category of items in the pull-down menu to declare that the income tax has been paid already. How to close this non-compliance notification.
Thanks and regards. Rajendran S
Read more at: https://www.caclubindia.com/experts/e-campaign-high-value-transactions-for-ay-2020-21--2838004.asp
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