Showing posts with label Income tax section 143. Show all posts
Showing posts with label Income tax section 143. Show all posts

Monday, 14 August 2017




There are some sections of the Income Tax Act under which you can get the income tax notice.
No need to panic if you receive the income tax notice instead understand the reason of getting the income tax notice and its implications.
Section 139(9):
There are some cases in which you will get a notice under section 139(9):
  • Wrong ITR form while filing income tax returns.
  • Mismatch in the name on the form and PAN card.
  • Paid taxes but not mentioned income.
  • Not paid the whole tax due.
  • Claimed a refund for deducted tax but not mentioned the relevant income.
Time to respond: Within 15 days of date of intimation by assessing officer.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans
Section 245:
In Section 245, you will get this notice or intimation letter if you have claimed a refund in some assessment year, but there is also some outstanding tax to be paid by you.
Time to respond: In the specified duration, as per the notice by the assessing officer.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans
Section-143(2):
If you get notice under section 143(2), it means your returns has been selected for scrutiny by Assessing officer which means the tax filed return by you was incomplete in document or not proper.
This can be of three types:
  • Limited purpose Scrutiny.
  • Complete Scrutiny.
  • Manual Scrutiny.
Time limit to respond: The assessee will have to appear in person before the officer on the date specified in the notice.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans
Section 143(1):
This is an intimation about the returns filed by you.
Time limit to respond: If tax is due then you will have to pay it in within 30 days. If there is no discrepancy then you no need to worry about this.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans

Section 143(1A):
This income tax notice under section 134(1) is sent only if there is any discrepancy in the income mentioned in the return and form 15, Section 80C deductions and Form 16AS, then verification will be sought.
Time limit to respond: Within 30 days of issue of intimation.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans

Wednesday, 9 August 2017

Income Tax Notice-Understand Section 143




As we all know that it is very important to file your income tax returns on time but filing ITR correctly is also very important. If there will be any error in income tax return filed by you then you can expect income tax notice.
In that case you no need to panic about the income tax notice and just need to understand the various sections under which you have received it.

Section 143(1):

This is an intimation about the returns filed by you.
Time limit to respond: If tax is due then you will have to pay it in within 30 days. If there is no discrepancy then you no need to worry about this.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans

Section 143(1A):

This income tax notice under section 134(1) is sent only if there is any discrepancy in the income mentioned in the return and form 15, Section 80C deductions and Form 16AS, then verification will be sought.
Time limit to respond: Within 30 days of issue of intimation.
You can contact our experts for any assistance: https://www.trutax.in/affordable-tax-services-and-plans

Section-143(2):

If you get notice under section 143(2), it means your returns has been selected for scrutiny by Assessing officer which means the tax filed return by you was incomplete in document or not proper.
This can be of three types:
  • Limited purpose Scrutiny.
  • Complete Scrutiny.
  • Manual Scrutiny.
Time limit to respond: The assessee will have to appear in person before the officer on the date specified in the notice.
If you fail to comply with the provisions of this section:
  • Prosecution up to one year with or without fine.
  • Penalty of Rs. 10,000 for each failure under section 271(1) (b).
  • Best Judgement assessment of your case under section 144.