Income Tax Notices

Fast Increasing pain of the Assesses

What is an Income tax notice?

Following a Person file their Income tax return, it's processed by the Income tax Department. If there is a mistake / error / discrepancy found in the Income tax return filed, then the same is intimated to the person through an income tax notice. There are a various types of Income tax notices issued by the Income Tax Department. These are highlighted below:

Income tax notice under section 133 - This Income Tax Notice is issued if the Income tax department seeks some information from the person in relation to the third party.

Income tax notice under section 139 - This Income Tax Notice is issued if the Income tax return filed is faulty for example, Income tax return is filed before payment of self assessment tax.

Revenue Tax Notice under section 142 - This Income Tax Notice is issued to seek particular document and details from the person.

Income Tax Intimation under section 143(1) - It's a notification sent by the Income tax department after the return is filed by the person and processed by CPC.

Income tax notice under section 143 (2) - It's issued for seeking response if there are particular errors / inconsistencies in the Income tax returns filed for limited or comprehensive scrutiny.

Income tax notice under section 148 - This Revenue Tax Notice is issued when the rating officer has a legitimate reason to believe that earnings of the person has escaped assessment.

Rectification under section 154 - In case the taxpayer has filed his Income tax return and there's some mistake, like, TDS credit isn't given, then rectification of point 154 is required to be registered either by the person or the Income Tax Department.

Income tax notice under section 156 - This Revenue Tax Notice is issued for repayment of demand after Income tax assessment is finished and order is passed.

Income tax notice under section 245 - This Revenue Tax Notice is issued to convey the adjustment of Income tax refund against Income tax demand.

Why is an income tax Notice?

  • Income tax return not filed.
  • Mistakes / Discrepancies from the Income tax return filed by you.
  • Inconsistency of TDS figures in the Income tax return registered by you personally and what's available in Form 26AS records of Income tax department.
  • Any monetary transaction done by person that is in the knowledge of income tax Department but is missing in the Income tax statement submitted by the him.
  • Assessing Officer wants particular document and details from the person.

Timely dispose off such notices is very important or else it may lead to unwanted harassment from the department, We at TAI will assist you to dispose off such notices based on merits of each case with our long experience to handle departmental queries.