The most common coffee discussion these days is about Income Tax Notices, it seems the IT department is in love with sending tax notices to tax payers for host of reasons, which were never heard off in past. Usually notices sent are in relation to issues in the income tax returns filed. Notices can also be for initiating scrutiny or for opening of assessment of past years. Taxpayers with limited tax knowledge are bound to panic, but instead of panicking the right course of action should be to understand the reason for the notice and act accordingly. In this article we will discuss about 7 Income Tax Notices Startups should know about .  We have written this article on Moneycontrol.com, to read full article click here