The Income Tax Department, leveraging advanced database systems, now captures various financial transactions of taxpayers, including Non-residents (NRIs, OCIs). Despite assumptions that foreign source funds aren't taxable, the absence of Indian Income tax filings prompts the department to verify potential tax evasion and the sources…
In this post we will discuss all aspects about What to do when you receive Notice u/s 148 in India? This is a long article so buckle up. An income tax notice under section 148 of the Income Tax Act is a notice issued by…
Many clients who have been trading on WazirX have reported that they are getting Income Tax Notice for Crypto Sold on WazirX. These usually are sent as summons to assessee under section 131(1a) of the income tax. The client actively traded cryptocurrencies on WazirX and…