Thursday, September 28, 2023

Waiting for income tax refund? You might not get it if tax department has sent you this notice

The income tax department will not disburse the income tax refund either in full or part if they have served an individual with a section 245 notice. Section 245 gives power to the income tax department to adjust past year's income tax liability with the present year's income tax refund.

from Tax-Wealth-Economic Times https://ift.tt/LIe8fgo

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