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TaxSrishti is an AI assistant for chartered accountants. Ask about income tax or GST in English or Hinglish, upload a notice or a client's documents, and get an answer that shows the law it's based on. Match GSTR-2B and turn bank statements into ledgers in the same place.

Client has a show-cause notice u/s 270A for AY 2024-25 alleging misreporting. What penalty can be levied, and is immunity available?

Read 4 provisions · searched case law

Penalty for under-reporting is 50% of the tax payable on the under-reported income. Where it is in consequence of misreporting, the penalty is 200%.

Misreporting is limited to the cases in sub-section (9): misrepresentation or suppression of facts, failure to record investments in the books, a claim of expenditure not substantiated by evidence, and similar. Check which limb the notice invokes and reply to that limb specifically.

Immunity u/s 270AA is available only for under-reporting, and requires that the tax and interest are paid within the time allowed and no appeal is filed.

Income-tax Act, 1961 · s. 270A(7)s. 270A(8)s. 270A(9)s. 270AA

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SCN_270A_AY2024-25.pdfTaxSrishti Pro

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Client has a show-cause notice u/s 270A for AY 2024-25 alleging misreporting. What penalty can be levied, and is immunity available?

Read 4 provisions · searched case law

Penalty for under-reporting is 50% of the tax payable on the under-reported income. Where it is in consequence of misreporting, the penalty is 200%.

Misreporting is limited to the cases in sub-section (9): misrepresentation or suppression of facts, failure to record investments in the books, a claim of expenditure not substantiated by evidence, and similar. Check which limb the notice invokes and reply to that limb specifically.

Immunity u/s 270AA is available only for under-reporting, and requires that the tax and interest are paid within the time allowed and no appeal is filed.

Income-tax Act, 1961 · s. 270A(7)s. 270A(8)s. 270A(9)s. 270AA

Draft a reply to this notice…

SCN_270A_AY2024-25.pdfTaxSrishti Pro

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Upload a client's documents. TaxSrishti compares the figures and shows you what doesn't match, and where.

See how it checks

Client · Individual · PAN ABXPM••••K

Mehta Clinic

FY 2025-26Ask about this client
OverviewDocuments 9Findings 4ComputationChat

Reconciliation

5 items · 4 differences

ItemSourceCompared withDifference
Professional receipts, TDS u/s 194J48,50,00026AS46,20,000Books₹2,30,000
TDS credit4,85,00026AS4,62,000Draft ITR₹23,000
Interest on deposits1,84,320AIS1,12,000Draft ITR₹72,320
Cash deposits, savings account11,40,000AIS (SFT)11,40,000Bank statementMatched
Advance tax3,00,000Challans3,88,000Computation₹88,000

Open findings

4

Receipts in 26AS exceed books by ₹2,30,000
AIS interest not offered in draft return
Advance tax short — ss. 234B, 234C
TDS credit of ₹23,000 unclaimed

Documents

Form 26AS — AY 2026-27.pdf
AIS — AY 2026-27.pdf
HDFC statement FY25-26.pdf
P&L FY 2025-26.pdf

What You Can Do With TaxSrishti

Client has a show-cause notice u/s 270A for AY 2024-25 alleging misreporting. What penalty can be levied, and is immunity available?

Read 4 provisions · searched case law

Penalty for under-reporting is 50% of the tax payable on the under-reported income. Where it is in consequence of misreporting, the penalty is 200%.

Misreporting is limited to the cases in sub-section (9): misrepresentation or suppression of facts, failure to record investments in the books, a claim of expenditure not substantiated by evidence, and similar. Check which limb the notice invokes and reply to that limb specifically.

Immunity u/s 270AA is available only for under-reporting, and requires that the tax and interest are paid within the time allowed and no appeal is filed.

Income-tax Act, 1961 · s. 270A(7)s. 270A(8)s. 270A(9)s. 270AA

Draft a reply to this notice…

SCN_270A_AY2024-25.pdfTaxSrishti Pro

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Interest & late fee

Interest u/s 234A, 234B and 234C, late fee u/s 234F, GST interest u/s 50 and penalty u/s 270A.

GSTIN check

Checks the check digit and shows the state and PAN inside the number.

PAN check

Checks the format and tells you the holder type, such as individual, firm or company.

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Add or remove GST, split into CGST and SGST or IGST.

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Due dates & reminders

Upcoming GST and TDS dates in the sidebar, with optional WhatsApp reminders.

Finding · High

Receipts in 26AS exceed books by ₹2,30,000

Form 26AS, Part I

₹48,50,000

Profit & loss, FY 2025-26

₹46,20,000

“Every answer shows the law it is based on. Every mismatch shows the document it came from. You can always check.”

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Questions

Who is TaxSrishti for?+

Chartered accountants, tax consultants and their staff in India. It works for a one-person practice and for firms with a team.

Does it file returns for me?+

No. It answers questions, checks documents and writes drafts. You review the work and file on the portal as usual. The advice is still yours.

How do credits work?+

Each question and answer uses credits based on how much text is read and written. A normal question uses a few thousand. Big documents and long drafts use more. You see the count after every answer.

What can I upload?+

PDFs, Word and Excel files, CSVs and photos. Scanned papers and phone photos work too. Up to 10 files at a time.

What are the answer modes?+

Lite is quick and is on every plan. Pro and Ultra go deeper and write better drafts. They come with paid plans.

Can I talk to it in Hindi?+

Yes, on paid plans. Tap Talk and ask in Hindi, English or Hinglish. It answers out loud in the same language, and the conversation is saved in your chat.

How accurate are the ITC match and bank ledger?+

The AI only reads the file and works out which column is which, and it shows you the columns it picked. Every match, total and flag is calculated by code. Bank amounts are checked against the statement's running balance, so a misread row shows up. Ledger heads are suggestions you can change.

Can my staff use it?+

Yes. Invite your team, give each person their clients, and everyone works from the same files.

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