Anagh Pal12 Mar 2024, 17:24
An income tax mismatch notice can happen due to several reasons. In an increasingly digital world, financial transactions rarely remain unreported and therefore, even an unintentional omission in our filing can result in a notice.“There may be an income tax mismatch between disclosures in the income tax returns (ITR) filed and information as received from the reporting entities. The reporting entities include a host of agencies, including banks, financial institutions, stock market players, mutual funds, and property registrars,” says Abhishek Soni, CEO, Tax2Win, an income tax portal.