Income Tax department’s advisories put NRIs on notice on high value deals: Report
These advisories are an intimation of the data in the possession of the Tax Department, said market watchers.
This may be followed up with an issue of notices for assessments (or reassessments) and even a detailed scrutiny if the taxpayer does not respond by filing revised returns (to address the mismatch) or by replying on the income tax portal.
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