What Does NOD Stand For?
NOD stands for Notice Of Deficiency Canada
NOD, or Notice Of Deficiency Canada, refers to a formal notification issued by the Canada Revenue Agency (CRA) indicating that a taxpayer's return has been reviewed and found lacking in certain areas. This notice highlights specific discrepancies, missing information, or underreported income, prompting the taxpayer to amend their return or provide additional documentation to rectify the identified deficiencies. Addressing an NOD promptly is essential to ensure compliance with tax regulations and to avoid potential penalties or additional tax liabilities.
Added on 27th September 2008 | Last edited on 16th June 2025 | Edit Acronym