Income Tax Notice of Additional Tax (U/S 114(6))

Product Description

Meaning of the Service: The Notice of Additional Tax (U/S 114(6)) service addresses situations where tax authorities issue a notice demanding additional tax payments. This notice can arise due to discrepancies, underreported income, or other issues identified during tax assessments. Our service helps you manage this notice effectively, ensuring compliance and minimizing any potential penalties.

An Income Tax Notice of Additional Tax under Section 114(6) can be issued to individuals, firms, or companies. This section applies broadly to any taxpayer who has failed to furnish a return of income for a tax year, and it authorizes the tax authorities to impose an additional tax for the period of non-compliance. The notice can thus be issued to any entity that falls under the obligation to file a return, including individuals, firms, and companies.

Practical Use Case: This service is essential for taxpayers who have received a Notice of Additional Tax from the tax authorities. If you have been notified of additional tax liabilities that you believe are incorrect or if you need assistance in responding to the notice, this service will guide you through the process.

How It Works:

1. Document Collection: Gather the required documents as listed above.
2. Submission: Send your documents via email or WhatsApp as per the provided instructions.
3. Review and Analysis: Our team will review the notice and the associated documents, providing a thorough analysis of the situation.
4. Response Preparation: We will prepare and submit a detailed response to the tax authorities on your behalf, addressing the issues raised in the notice.
5. Follow-up: We will monitor the response and keep you updated on any further actions required.

Timeline: The process typically takes between 5 to 10 business days from the receipt of your documents to the submission of the response. The timeline may vary depending on the complexity of the case and the responsiveness of the tax authorities.

Benefits:

• Expert Handling: Benefit from our expertise in managing tax notices and addressing additional tax demands.
• Compliance Assurance: Ensure that your response is accurate and compliant with tax regulations.
• Reduced Stress: Minimize the stress and confusion associated with dealing with tax authorities.
• Potential Savings: Avoid unnecessary penalties and additional charges by addressing the notice promptly and effectively.

For assistance with your Notice of Additional Tax (U/S 114(6)), reach out to us today and let our experts handle the complexities of tax compliance for you.