Income tax notices are delivered by the Income Tax Department for a variety of reasons like not submitting income tax yield, the flaw in the filing of tax return or other cases where the tax division requires additional documents or information. On getting an income tax note, there’s absolutely no reason to be alarmed or scared. On the other hand, the taxpayer should take action to comprehend the disposition of note, the petition or purchase at the note and take action to comply.
Kanoons provides an extensive package of solutions for both households and companies to help them keep their tax compliance. In the event you get an income tax note, get in contact with a Tax Specialist in kanoons to better know that the income tax notice and decide a strategy. It is possible to send a copy of the tax note and query to [email protected] Our Tax Pros can subsequently advise you on the kind of notice received and supply support in assisting you to comply with the tax notice or purchase.
Notice u/s 143(1) – Intimation
This is only one of the most frequently obtained income tax note. The income tax department sends this note looking for a result of the mistakes / erroneous claims/ inconsistencies within a sales tax return which has been filed. If you would like to update the yield after receiving this note, it has to be performed within 15 days. The tax return will be processed after making necessary alterations cited in the 143(1) taxation note.
Notice u/s 142(1) – Inquiry
This note is addressed to the assessee once the yield is already registered and additional particulars and documents are needed from the assessee to finish the procedure. This note may also be sent to demand a taxpayer to supply additional documents and data.
Notice u/s 143(2) – Scrutiny
An income tax notice under Section 143(2) is issued in the event the taxation officer wasn’t happy with the records and data that was filed by the citizen. Taxpayers who receive notice under Section 142(2) are chosen for thorough scrutiny from the Income Tax department and also will need to submitted additional details.
Notice u/s 139(1) – Defective Return
An income tax notice under Section 139(1) will be issued in the event the income tax return submitted doesn’t include all essential information or wrong information. If taxation notice under Section 139(1) is issued, you must fix the flaw at the return within 15 days.
Notice u/s 156 – Demand Notice
This type of income tax note is issued by the Income Tax Department when any tax, interest, fine or any other sum is owed by the taxpayer. All need tax notice will stipulate that the amount that’s exceptional and as a result of the taxpayer.