Wrong ITR form led to ₹26.69 lakh tax demand: How ITAT Chandigarh saved a small trader
An ITAT Chandigarh ruling cancelled a ₹26.69 lakh tax demand after a small trader’s commission income was counted twice. The case highlights why taxpayers must choose the correct ITR form and reconcile Form 26AS with declared business income.
The News Flicker
An ITAT Chandigarh ruling cancelled a ₹26.69 lakh tax demand after a small trader’s commission income was counted twice. The case highlights why taxpayers must choose the correct ITR form and reconcile Form 26AS with declared business income.
A lapse of concentration by a small trader while filing his income tax returns resulted in a 26.69 lakh tax demand. This occurred after the tax department treated the commission receipts that were al…
Originally published by Livemint. Read the full article →
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