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Time of India
3 days ago
- Business
- Time of India
Got an income tax notice? Here are common types of tax notices and what to do to avoid penalties
Filing the income tax return (ITR) isn't always the end of your tax journey. Even after submission and verification of returns, you may get a notice from the Income Tax Department . While this can seem intimidating, most notices are routine and manageable. Understanding these and responding correctly can help avoid penalties , save time, and maintain peace of mind. If you do get a notice, following these tips can keep you from panicking and inviting further trouble. DON'T IGNORE: Every notice has a deadline; missing it can result in penalties. USE FORM 26AS & AIS: These will help you to verify and reconcile your income and TDS data. BE ACCURATE: Mismatches can lead to additional scrutiny or tax demands. ACT PROMPTLY: Even minor notices can lead to complications if unaddressed. SEEK EXPERT HELP: For complex notices, consult a chartered accountant or a tax professional immediately. Here is a simple guide to common income tax notices and how to deal with them. Section 143(1) Intimation after return processing by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Fastest Selling Plots of Mysore from 40L | 40+ Amenities PurpleBrick Learn More Undo This is the most frequent notice. It compares your filed return with the department's records. It is sent if there is a TDS mismatch, calculation errors, incorrect deductions, or in case of delayed filing. What to do Log in to the income tax portal and review the notice. If correct, no action is needed. If tax is payable, pay within 30 days. If incorrect, file a rectification with documents. Section 245 Adjustment against previous dues Live Events If you're eligible for a refund, but have pending tax dues from previous years, the department may adjust it. What to do Check the notice in your portal under 'e-Proceedings'. Agree or disagree with the reasons within 15 days. No response leads to the automatic adjustment of your refund. Section 142(1) Inquiry before assessment This is a preliminary inquiry when your return isn't filed or the department needs extra details. What to do File your return, if pending. Submit the requested documents by the given deadline . Ignoring this can lead to penalties or scrutiny. Section 139(9) Defective return If your return has errors or is missing data, it's considered defective. The common issues it deals with are missing income details and incorrect deduction entries. What to do You have 15 days to correct and re-file. Log in, access the notice under 'e-Proceedings', and respond. Failing to act may make your return invalid. Section 133(6) Request for financial information This notice seeks clarification on transactions like high-value cash deposits or property purchases. What to do Share relevant documents, such as bank statements or agreements. Submit within the deadline to avoid further scrutiny. HRA and TDS mismatch notices These are sent when your house rent allowance (HRA) claim or TDS details don't align with the department's records. What to do Ensure tenant TDS compliance if rent exceeds Rs. .50,000 a month. Keep rent receipts and the landlord's PAN. If the mismatch is real, file an updated return and retain documents for future reference. Section 143(2) Scrutiny notice This notice means your return has been selected for a detailed check. What to do Cooperate by submitting all proofs, including income, deductions, or expense claims. Attend hearings if called, or respond through the portal. No response may lead to tax assessments based on estimates. Section 148 Income escaping assessment It is issued when the department believes some income was left undisclosed in previous returns. What to do File a revised return or give explanation as per the notice. Justify the source of income and submit relevant proof. Ignoring this can lead to the reopening of past assessments and penalties. Section 271AAC(1) Penalty for unexplained income If unexplained income, like sudden large deposits, is found during scrutiny, this notice may be issued. What to do Provide documentation explaining the source of income. Penalties of up to 60% apply if the income is found to be unexplained.
Time of India
27-05-2025
- Entertainment
- Time of India
Khan Sir's Shaadi announcement to students: Isi Dauraan Pakistan Aur Bharat Ke Beech Yudh Shuru Ho Gaya, Jis Kaaran ...
Popular YouTuber and educator Khan Sir surprised his students by breaking the news of his marriage. Alongside the announcement, he also shared the reason behind keeping his wedding ceremony private as well as not holding a public reception. Khan Sir said that he chose to keep the wedding a low-key affair as his wedding happened during Operation Sindoor and the following India-Pakistan tension. Khan Sir on his wedding: Isi Dauraan Pakistan Aur Bharat Ke Beech Yudh Shuru Ho Gaya, Jis Kaaran ... As per the videos shared on social media, Khan Sir told his students that his wedding took place during the period when the nation was facing a serious situation. He said, "During this time, war broke out between Pakistan and India, which is why..." This unexpected conflict, he explained, directly impacted his wedding plans. 'Meri shaadi ki tareekh tay ho gayi thi. Isi dauraan Pakistan aur Bharat ke beech yudh shuru ho gaya, jis kaaran saade tareeke se shaadi ki gayi. Mere chhote bhaiyon ne maa se keh kar meri shaadi kara di aur maa ki baat taali nahi ja sakti thi,' Khan Sir reportedly told his students during one of his classes. During a live class, Khan Sir humorously shared that while the country was watching news of war, he was getting married. He explained that the timing of the conflict led him to avoid a grand celebration, opting for a private ceremony instead. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Fastest Selling Plots of Mysore from 40L | 40+ Amenities PurpleBrick Learn More Undo Khan Sir thanked his students and announced the reception date During a class Khan Sir thanked his students and added that he will be hosting a special reception party for all his students. He said that his wedding reception will take place in Patna on June 2, followed by a special party for his students on June 6. 'I wanted to share this with you first because you are the very reason for my existence, and I am truly thankful to each one of you. As a token of my appreciation, following the reception on June 2, I will be hosting a special wedding feast for all my students on June 6,' said Khan Sir. Who Is Khan Sir's Wife? While Khan Sir has kept details about his wife private, reports suggest she is identified as AS Khan. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
25-05-2025
- Climate
- Time of India
Pre-monsoon rain affects mango supply, quality in May
1 2 3 Pune: Pre-monsoon rain in the state has adversely affected supply and quality of mangoes this May. Unexpected rain compromised the fruit's appearance and taste, resulting in lower market availability this month. Vendors said the last harvest of Alphonso mangoes was impacted, and some farms sent the damaged fruits for canning. Prashant Gote, head of fruits and vegetables section at APMC in Pune, said there is a 50% lower supply of mangoes this month. "The stock of mangoes in the market usually comes down in May, but due to unseasonal rain, we expect lower supply to trickle in next week. The quality of fruits is typically impacted in heavy rain," he said. This disruption has not only impacted local vendors but also raised concerns among consumers. Deeksha Tanna, a resident of Wanowrie, said, "The size of Alphonso mangoes is much smaller these days. I waited for prices to come down in March and April, but now the ones available in the market are of inferior quality compared to earlier," she said. Saloni Desai, a resident of Aundh, said she spotted many mangoes with black spots in the market. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Fastest Selling Plots of Mysore from 40L | 40+ Amenities PurpleBrick Learn More Undo "Vendors told me that mangoes typically develop black spots if they are over-ripe or has come in contact with water during harvesting. I think the rain this month resulted in some spoilage of Alphonso mangoes in the market," she said. Tanishq Dere, who sells mangoes online under his brand Aamraaj Mangoes, said, "Fruits which fall on the ground due to heavy rain or winds typically get bad. Due to the unavailability of labour during rain, there is delay in harvesting mangoes. Alphonso mangoes available in March-April were of much better quality than they are now." Kesar and local (gavran) variety, available during the start of May, is usually not impacted because of the monsoon. "These mangoes have now started coming into the market and are much cheaper than Alphonso. Price of these local varieties has also fallen owing to early rain," said Rashmi Makwana, a regular customer at Marketyard. Sachin Jadhav, owner of MyKrushi Ratnagiri Hapus at Wagholi, said that usually the last picking of Alphonso mangoes is done on May 20, but this year harvesting was done 10 days earlier. "Pre-monsoon showers started by then, so we picked good quality mangoes first and sent the rest for canning. This year, we sent more mangoes for canning because of the quality of fruit. We usually incur 50% loss when produce is sent for canning," said Jadhav. Pune: Pre-monsoon rain in the state has adversely affected supply and quality of mangoes this May. Unexpected rain compromised the fruit's appearance and taste, resulting in lower market availability this month. Vendors said the last harvest of Alphonso mangoes was impacted, and some farms sent the damaged fruits for canning. Prashant Gote, head of fruits and vegetables section at APMC in Pune, said there is a 50% lower supply of mangoes this month. "The stock of mangoes in the market usually comes down in May, but due to unseasonal rain, we expect lower supply to trickle in next week. The quality of fruits is typically impacted in heavy rain," he said. This disruption has not only impacted local vendors but also raised concerns among consumers. Deeksha Tanna, a resident of Wanowrie, said, "The size of Alphonso mangoes is much smaller these days. I waited for prices to come down in March and April, but now the ones available in the market are of inferior quality compared to earlier," she said. Saloni Desai, a resident of Aundh, said she spotted many mangoes with black spots in the market. "Vendors told me that mangoes typically develop black spots if they are over-ripe or has come in contact with water during harvesting. I think the rain this month resulted in some spoilage of Alphonso mangoes in the market," she said. Tanishq Dere, who sells mangoes online under his brand Aamraaj Mangoes, said, "Fruits which fall on the ground due to heavy rain or winds typically get bad. Due to the unavailability of labour during rain, there is delay in harvesting mangoes. Alphonso mangoes available in March-April were of much better quality than they are now." Kesar and local (gavran) variety, available during the start of May, is usually not impacted because of the monsoon. "These mangoes have now started coming into the market and are much cheaper than Alphonso. Price of these local varieties has also fallen owing to early rain," said Rashmi Makwana, a regular customer at Marketyard. Sachin Jadhav, owner of MyKrushi Ratnagiri Hapus at Wagholi, said that usually the last picking of Alphonso mangoes is done on May 20, but this year harvesting was done 10 days earlier. "Pre-monsoon showers started by then, so we picked good quality mangoes first and sent the rest for canning. This year, we sent more mangoes for canning because of the quality of fruit. We usually incur 50% loss when produce is sent for canning," said Jadhav.
Time of India
20-05-2025
- Entertainment
- Time of India
Why Rs 800 crore Pataudi Palace has just one photo of Sharmila Tagore. Saif Ali Khan has the answer
The Cannes red carpet lit up with grace and nostalgia as veteran actress Sharmila Tagore made a rare and dazzling appearance at the 2025 Cannes Film Festival . The actress attended the special 4K restored screening of Aranyer Din Ratri , a Satyajit Ray classic that starred Sharmila at the height of her career. Fittingly, the screening was introduced by celebrated filmmaker Wes Anderson , a known admirer of Ray's cinematic genius. While her red carpet moment captured headlines, a heartfelt interview to Rediff with Sharmila's son, actor Saif Ali Khan , has resurfaced online, reminding fans of the personal and deeply graceful woman behind the camera. In the interview, Saif reflected on Sharmila's humility, noting that she never pushed her children to watch her films. Yet, when he eventually watched Aranyer Din Ratri, it sparked a meaningful conversation between them about her dynamic with Soumitra Chatterjee, her co-star in Aranyer Din Ratri, Apur Sansar and Devi. Further in the interview, he also referred to the veteran actress as someone who restored not just memories but spaces. Having married into the Pataudi royal family, Sharmila played a significant role in transforming their ancestral home into a stunning palace, all without putting herself in the spotlight. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Fastest Selling Plots of Mysore from 40L | 40+ Amenities PurpleBrick Learn More Undo Why does Sharmila Tagore have just one photo? According to Saif, the palace holds no prominent photographs of her, except for a single image of her receiving the National Award, discreetly placed in a corridor beneath a bookcase. Yet her presence is felt in every thoughtfully restored corner, from the lush gardens to the finely tailored blinds. Her sense of aesthetics, hospitality, and discipline shaped the very soul of the household. Beyond her cinematic journey, Saif described his mother as a natural host and a quiet perfectionist—someone who trained her staff so well that neighbouring families would often poach them. It's these anecdotes that deepen our understanding of Sharmila Tagore, not just as an actress of unmatched legacy, but as a woman of substance, style, and silent strength. You Might Also Like: Soha Ali Khan reveals supernatural reason behind Pataudi family's overnight move from ancestral home to Rs 800 crore palace About Pataudi Palace Nestled in the serene town of Pataudi in Haryana's Gurugram district, the Pataudi Palace , also known as Ibrahim Kothi, is a sprawling 10-acre estate that showcases a graceful fusion of colonial, Mughal, and traditional Indian architecture. Once home to legendary cricketer and Nawab Mansoor Ali Khan Pataudi , the palace now belongs to his son, actor Saif Ali Khan. Rich in heritage and elegance, the estate continues to host intimate family gatherings and events. With its grand halls and timeless charm, the palace stands as a symbol of regal legacy and is estimated to be valued at an astonishing Rs 800 crore.
Time of India
18-05-2025
- Politics
- Time of India
Sanvordem opposes new bandhara plan
Margao: The Sanvordem gram sabha on Sunday witnessed heated exchanges as villagers strongly opposed the construction of a bandhara at Falnem, voicing serious apprehensions about potential flooding during the monsoon. The meeting turned stormy when irate villagers demanded the resignation of all nine panchayat members, accusing them of failing to protect the interests of the village. Ten months after the gram sabha passed a resolution opposing a proposed Rs 280 crore bandhara at Mirabag, Sunday's meeting spurred questions about the propriety of authorities in undertaking a similar project at Falnem, a ward adjacent to Mirabag. Tempers frayed when panchayat members claimed they were not aware of the Falnem project details and had not been taken into confidence by govt. 'The panchayat was kept in the dark about the project. The panchayat has already issued a stop-work order for the project,' Sanjay Naik, a panchayat member, told the media after the gram sabha. Naik added, 'We have apprised the local MLA and the chief minister of the villagers' opposition to the project.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Fastest Selling Plots of Mysore from 40L | 40+ Amenities PurpleBrick Learn More Undo Sanket Bhandari, president of the Sanvordem block Congress, accused govt of deliberately dividing villagers by not taking the panchayat into confidence over the Falnem project. The controversy has its roots in July 2024, when the gram sabha unanimously passed a resolution opposing the proposed bandhara to be built across the river at Mirabag.
