Income Tax Department accepts new set of rule change

The year is coming to an end people. Get ready with your tax and income details as the Income Tax Department has made some changes.

The central board of Direct Taxes has amended the rules relating to service of notice, summons, requisition or order. The step widens the scope of addresses that the I-T department can use for delivering any form of communication with the taxpayers.

The I-T can now use the address of the assessee as available with the banks, post office, insurer or that available in government/local authority records. It can also include communication address provided under PAN database, which is meant for filing statement of the financial transaction. The extant rule provides that the I-T could use the address from either the PAN database or a taxpayer’s registered office address. 

 Experts said the change in the rule was to ensure tax authorities can track those assesses who aren’t reachable at the addresses available with the department.