Dear Sir,
My name is Manoj kumar. In 2023-24 assessment year I got the refund approx 7 lakhs. Now I'm getting notices one after one .one of my known person giving the response, but at last got 270A and 156 demand notice (13 lakhs). for 270A i have given response for re assessment. But 156 notice i didn't give any reply. One month due also cometed. But I'm afraiding that again i may get any notices with higher penalty. Please suggest and do needful on this issue to me. Thanking you
Tax demand notices: respond promptly to demand and penalty notices to protect against recovery and penalty escalation. Taxpayer received refund then multiple notices, including a section 270A penalty (response filed for reassessment) and a section 156 demand notice (no reply; reply period lapsed). The issue is procedural: obtain the formal demand notice, file a prompt written reply or representation, preserve refund and response records, and consider professional representation to address consequences of non-response and the interaction between reassessment, penalty proceedings, and demand recovery. (AI Summary)
Income Tax