Income Tax Notices

Income Tax Notices2019-03-07T11:20:25+00:00

Income Tax Notices

Notice u/s 143(1)

Upon successful processing of the return an intimation under section 143(1) is issued by the CPC under any of the three instances:
• Intimation:You are being informed that after the final assessment your return calculation matches the AO’s computation.
• Refund: The AO’s calculation shows excessive tax paid by yo ..
• The AO’s calculation shows a shortfall in the tax paid by assessee.

Notice u/s 142(1):

• If you have filed your return, but the assessing officer requires additional information and documents; or
• If you have not filed your return, but the assessing officer wants you to.
The information is called for, to enable the officer to make a fair assessment.
Requirements of AO shall be asked in the form of questionnaire. Assessee has to respond within stipulated time frame as mentioned in notice.

Notice U/S 143(2):

This is a follow-up to the notice issued under section 142(1)
Common Reasons of issuance:
• Assessing officer is not satisfied with your response.
• Not received the documents that he sought for.
• Require additional information/documents
• If you have not filed your return, but the assessing officer wants you to.
Time Limit to Respond:
Within stipulated time frame as mentioned in notice.
Return will subject to detailed scrutiny
Being non-responsive to this notice has consequences:
• a penalty of Rs 10,000 can be levied for each such failure
• prosecution which may extend up to 1 year
• both of the above

Notice u/s Section 148:

In the opinion of assessing officer, assessee might have escaped some income.
Requirements by AO:
They could ask to file the return for the relevant assessment year or for reassessment.
Handling of notices as per their requisites is a difficult task for such business man who want to focus more on their core area of business.
iNext is a leading organisation which have rich experience to handle the cases of income tax.
You just have to share the details with us as per the requirements of notice.

Contact Info

iNext Solution, 78-79, 3rd Floor, Shiva Arcade, Acharya Niketan, Mayur Vihar Phase – 1, Delhi, Delhi, 110091, India

Phone: +91 11 4357 0296

Mobile: +91 93 50 514064