Business or profession? Wrong code triggers income tax notices on ‘defective returns’ | Ahmedabad News
Ahmedabad: An incorrect code in an income tax return (ITR) has put several business taxpayers under the department’s compliance scanner. Several from Ahmedabad have received defective return notices, flagging returns in which the selected business or profession code is absent, incorrect or does not correspond with the taxpayers’ activities reported in the financial statements. Tax…
