Why did I get an Intimation Notice 245?

Why did I get an Intimation Notice 245?

You may not be aware of any outstanding tax liabilities for the previous years, while filing tax returns for the current year. If you have previous tax liabilities, the I-T Dept. will adjust them with any refunds arising in the current year, and will send you a Notice u/s 245, to intimate you of the adjustment. Many individuals are confounded by this notice, as they believe that they have filed their taxes accurately. This happens because the taxpayer looks at the current year in isolation, while the I-T Dept. has records of all the years’ tax filings of the filer, and hence are looking at the larger picture.

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