The Economic Times News

Income Tax Depts algorithm is misreading capital gains from unlisted shares as business receipts and sending intimations; Know what to do

Taxpayers are receiving incorrect mismatch alerts from the Income Tax Department. The department's automated systems are misreading capital gains from unlisted share sales as business income. This is causing confusion and stress for those who have filed their returns correctly. The issue stems from how Section 194Q is being interpreted.