Union Finance Minister Nirmala Sitharaman has said that the Income Tax Department has sent about one lakh notices to individuals for non-filing of returns or understating incomes in the past years.
“This year we heard a lot of people saying notices have come to us and what’s happening? Why are so many notices being issued? I just want to tell you that based on these two categories, where information is available, that is more than what you have filed. There are reasons to believe that the income has been understated or were there non-filers, information is that they should have been filers,” said Sitharaman, addressing the 164th Income Tax Day on Monday. “About one lakh notices were sent,” Sitharaman said, adding that the notices are expected to be cleared by the end of this fiscal 2023-24.
