Income Tax Notice - How To Check And Authenticate ITR Notices?
An income tax notice is a written communication sent by the Income Tax Department to a taxpayer alerting him to an issue with his tax account. The notice can be sent for different reasons, such as filing/ non-filing their income tax return, making the assessment, asking for certain details, etc. When the Income Tax Department sends a notice, the taxpayer has to act on it within the given timeline and resolve the matter with the tax authorities.
Types of Income Tax Notices Where Financial Strategy Meets Expertise
An income tax notice is a written communication sent by the Income Tax Department to a taxpayer alerting him to an issue with his tax account. The notice can be sent for different
Notice under Section 142(1)
A ITR notice is served by the assessing officer u/s 142 (1) in two cases. Firstly, if the officer requires additional information and documents pertaining to your income tax returns...
Notice sent under Section 139(9)
If the AO believes that a defective income tax return is filed, he will serve you an ITR notice under this section. The error can be missing information, selection of the wrong ITR form...
Notice under Section 148
This ITR notice is sent in cases where the assessing officer(AO) has a reason to believe that a taxpayer has filed his ITR on a lower income or not filed when the law mandated him...
Notice sent under Section 156
If there is any type of demand like penalty, fine, tax or any other amount which the taxpayer is supposed to pay to the income tax department, a income tax notice under Section 156 would be issued...
Intimation under Section 143(1)
After you file and verify your ITR, they are processed online by the tax department. Intimation u/s 143(1) is computer generated initial assessment which is sent to all the taxpayers u/s 143(1)...
Notice under Section 143(2) for scrutiny assessment u/s 143(3)
A notice u/s 143(2) is sent to the taxpayer if the Tax Department chooses to scrutinize the ITR of the taxpayer. The assessing officer sends this notice within 6 months from the end of the financial year...
Notice under section 131
If the assessing officer believes that the tax payer is concealing his income or a part thereof, he can serve a notice under this section...
Notice under section 245
This notice u/s 245 of the Income Tax Act is served by the assessing officer(AO) if it is believed that you have not paid taxes in the previous FY...
Got Income Tax Notice? Let the tax experts help you with Notice Handling and Response
An income tax notice is a written communication sent by the Income Tax Department to a taxpayer alerting him to an issue with his tax account. The notice
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What are the Most Common Causes of Notice?
An income tax notice is a written communication sent by the Income Tax Department to a taxpayer alerting him
- ITR Mismatch
- Mismatch in the amount of TDS reported.
- An error in your income tax return.
- Lack of submission of all the documents.
- Non-filing or delayed income tax return filing.
- When you invest in the name of your spouse and do not mention the same in your income tax returns
- If high-value transactions have been done during the financial year and have not been properly reported in the ITR.
- Inaccurate Information on Assets or Income
- If the assessing officer does random scrutiny of your income tax return.
- When long-term capital gains earned from equity investments are not reported correctly.
- If the taxpayer does not disclose any income or there is a discrepancy in the disclosed income.
- If your refunds can be set off against the previous year's tax liability.
- If you have evaded tax in previous financial years.
Things to do after Receiving an Income Tax Notice
An income tax notice is a written communication sent by the Income Tax Department to a taxpayer alerting him
- ITR Mismatch
- Mismatch in the amount of TDS reported.
- An error in your income tax return.
- Lack of submission of all the documents.
- Non-filing or delayed income tax return filing.
- When you invest in the name of your spouse and do not mention the same in your income tax returns
- If high-value transactions have been done during the financial year and have not been properly reported in the ITR.
- Inaccurate Information on Assets or Income
- If the assessing officer does random scrutiny of your income tax return.
- When long-term capital gains earned from equity investments are not reported correctly.
- If the taxpayer does not disclose any income or there is a discrepancy in the disclosed income.
- If your refunds can be set off against the previous year's tax liability.
- If you have evaded tax in previous financial years.
What documents are required to reply to an Income Tax Notice?
An income tax notice is a written communication sent by the Income Tax Department to a taxpayer alerting him
- A copy of the notice
- TDS certificates (Form 16- Part A)
- Proof of Income source (Salary receipts, Form 16- Part B, etc)
- Investment Proof
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