Income Tax
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Income Tax Notice
An income tax notice is a written communication sent by the Income Tax Department to a taxpayer alerting an issue with his tax account.
Timeline - 10 to 15 Working days
About
What is
meant by Income Tax Notice
An income tax notice is a written communication sent by the Income Tax Department to a taxpayer alerting an issue with his tax account. The notice can be sent for different reasons like filing/ non-filing his/ her income tax return, for the purpose of making the assessment or to ask the certain details etc.
You may be startle to receive an intimation/notice from the income tax department even if you have filed your income tax returns within the due date. You would not be sure about what it is and how to respond to it. Don’t get panic
First, it is important that you understand the difference between an intimation and a notice. There is a very minute of difference between the two things. Intimation is to highlight the outcome of the processing of your return or end of assessment, and you may not be required to act upon it (although there are a few exceptions to it). However, when you receive a notice, it requires you to act on it. Recently, the Central Board of Direct Taxes (CBDT) has notified a new scheme known as Centralized Communication Scheme (CCS). The scheme states that, gradually, all communications will happen in an electronic mode.
Income Tax Notice
Intimations of Income Tax Notice
01.
Notice under section 142(1)
A 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. Secondly, if the return has not been filed but the officer wants the return to be filed. If you do not respond to the notice served under Section 142(1), you would face a penalty of INR 10,000, prosecution for up to 1 year or both. Notice sent under section 139(9)
02.
Notice send under section 139(9)
If the AO believes that a defective income tax return is filed, he would serve you notice under this section. The error can be missing information, use of the wrong ITR form, incomplete return, etc. This officer would also highlight the defect in the income tax return and recommended the solution thereof. You get a period of 15 days to respond to the notice. If you do not respond, your ITR would be rejected.
03.
Notice under section 148
This notice is sent in cases where the assessing officer (AO) has the reason to believe that a taxpayer has filed his ITR on a lower income or not filed when he was mandated by the law. The time limit to send the notice under this section depends on the amount and nature of income escaped.
04.
Intimation under section 143(1)
After you file and verify your ITR, they are processed online by the tax department. Post this initial assessment, the tax department sends an intimation to all the taxpayers u/s 143(1). It contains information related to an additional tax liability or refund or if the loss amount mentioned in the return should be increased or decreased or if filed return is perfect.
05.
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 in which the return is furnished. After the notice is received by the taxpayer, he/she should reply to the questionnaire issued by the income tax department and submit all the additional documents requested.
06.
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. Through the notice, the assessing officer can enquire the books of accounts of the taxpayer and investigate into the taxpayer’s income.
07.
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 where you had a tax liability and the tax refund of the current FY can be used to pay off the tax liability. You are required to respond within 30 days, failing which, the AO would consider it as consent to adjust the tax refund with previous tax liabilities and then issue your refunds after such adjustments.
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What should be done after receiving an income tax notice?
Read the notice thoroughly to find out why it has been sent
Check the basic details on the notice to ensure that the notice is meant for you. The notice should contain your correct name, PAN Card number, mobile number, email ID, etc. to authenticate that it is sent to you.
Find out the discrepancy in your income tax return which caused a notice to be served, if any.
Respond to the notice within the stipulated time period to avoid penalties and prosecutions.
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What are the most common causes of notice?
Here some of Common causes of IT Notice
Mismatch in the amount of TDS reported
An error in your income tax file
Lack of submission of all the documents
Non filing of your tax returns
When you invest in the name of Life Partner and do not mention the same in your income tax returns
Income Tax Notice
FAQ
If any notice has been issued by ITD, then it will be delivered at your registered address by post.You can check notices received by you through income tax portal but remember not all the notices can be checked through portal, for all notices enquiry, you can visit ITD and ask your query there.
EXC -001 means that you have done a transaction which is beyond that permission of Income Tax Act. It is for cash transactions exceeding INR 10 lakh in a month
If you dont respond to the income tax notice, there can be different types of consequences depending upon the type of Notice which you would have to face.
You can reply to an income tax notice online. You can visit the online website of the income tax department which is used for e-filing of returns. Log into your online account and respond to the notice which you have received.
You can pay your tax on demand online. To do so you can visit the e filing website of the income tax department and log into your account. You can then check the amount of outstanding tax demand under Response to Outstanding Tax Demand under the e-File option. Then, under the Pay Tax column choose Click Here. You would be taken to the NSDL website wherein you can fill the online form and pay the tax on demand.
ITRV(acknowledgement) is received on your registered mail ID soon after you file ITR. Otherwise it can also be downloaded from your account on income tax India official website.
The Income Tax Department issued discrepancy in notice u/s 143(1) and i discrepancy can be favourable or not.If any demand raised is correct then pay the same.If any refund is of INR 100 or more then IT will pay you certainly.If any mistake is apparent from record, you can file rectification u/s 154 (1) correcting mistakes: Click on ‘e-file’, and choose the 'Rectification’ option from the drop down list.
Yes, a salaried person also gets income tax notice. The notice u/s 143(1) is an intimation which is sent by ITD to every taxpayer.However, you can receive other income tax notices if IT has reasons to believe that income has been concealed by you or on any other grounds.
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