Income Tax Notice 2025: If you are doing a job, then you must have a savings account. Let us tell you that the Income Tax Department has issued a notice for those who have a savings account. In this notice, the Income Tax Department has said that if there is Rs 10 lakh or more in the savings account, then the Income Tax Department can send you a notice. According to the rules of Income Tax, if people deposit Rs 10 lakh or more in their bank account in a year, then the bank sends this information to the Income Tax Department.
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Why does the notice of the Income Tax Department come
For information, let us tell you that this rule of IT is to prevent black money and tax evasion. If a large amount is suddenly deposited in someone’s account, then the Income Tax Department wants to know where the money has come from. In such a situation, you may get a notice from the Income Tax Department. On receiving this, you will have to give all the details. Where and how the money has come.
Know what information you will have to give
If the source of income is legal, such as salary, business, or savings scheme, and you have paid the tax honestly, then there is no need to worry at all. For information, there is no problem with depositing a large amount in the bank account. If you ignore the tax rules, you may be given a notice.
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When does the notice come?
If you get a notice, what should you do in such a situation? You should tell the source of your income. Keep bills, salary slips, investments, and business records ready with this. Give the correct information along with this. There may be a penalty for giving wrong information. If you are confused, then definitely consult a tax expert.