TDS Mismatch In Your Intimation Under Section 143(1)? Things You Can Do To Fix It

TDS Mismatch: Section 143(1) intimations, while not assessment orders, play a pivotal role in informing taxpayers about the outcome of their income tax returns

The Income Tax (I-T) Department has been actively issuing intimations to taxpayers under Section 143(1) of the I-T Act in a bid to streamline the tax assessment process. These intimations serve as crucial communication tools, detailing the computation of total income, tax liability, and any adjustments made by the department after processing the taxpayer's return. Taxpayers are encouraged to promptly address any issues to ensure accurate assessments and timely compliance with tax regulations. Adherence to the prescribed procedures facilitates smoother interactions with the tax department and promotes a transparent tax regime. But, what happens if you spot TDS mismatch in your intimation? Here in the following, you will find answers regarding TDS mismatch and Section 143(1) in details.

Understanding Intimations under Section 143(1)

Section 143(1) intimations, while not assessment orders, play a pivotal role in informing taxpayers about the outcome of their income tax returns. They highlight various discrepancies, errors, or adjustments made during the processing of the returns. Common causes for the issuance of such intimations include:

Discrepancies in Income Details

Variations in reported income sources like salary, business income, or interest income.

Mismatch in TDS Details

Differences between Tax Deducted at Source (TDS) details reported and departmental records.

Errors in Deductions and Exemptions

Inaccuracies in claiming deductions or exemptions.

Incorrect Tax Payments

Variances in the tax paid versus the department's calculated tax liability.

Mismatch in PAN or Aadhaar Details

Errors or mismatches in provided identification details.

Failure to Verify Returns

Neglecting to verify or e-verify filed tax returns.

Non-Filing of Tax Returns

Failure to file returns when income exceeds exempt limits.

Calculation Errors

Mathematical inaccuracies leading to discrepancies in tax liabilities.

Non-disclosure of Income

Unintentional or deliberate concealment of income sources.

Non-compliance with Tax Rules

Violation of Income Tax Act provisions.

Time Limit for Issuance and Actions to be Taken

Intimations under Section 143(1) must be issued within one year from the end of the financial year in which the return is filed. Upon receiving such intimations, taxpayers are advised to carefully review the details provided. If discrepancies are found:

Agreements

If details are accurate, no further action may be required.

Disagreements

Disputed calculations can be rectified online under Section 154 or appealed under Section 246A.

No Intimation Received

Lack of intimation within the stipulated timeframe deems the ITR-V acknowledgment as the intimation. It's advisable to verify online for processing confirmation.

Where to locate ITR Intimation?

Locating your ITR Intimation is a straightforward process that can be accomplished through the Income Tax e-filing portal. Here’s a step-by-step guide to help you find your ITR Intimation:

Visit the Income Tax e-filing Portal: Head over to the official Income Tax e-filing portal by navigating to https://www.incometax.gov.in/iec/foportal/

Log in to Your Account

Use your credentials, including your User ID (which corresponds to your PAN) and password. If you’re a new user, you’ll need to register and create an account first.

Access “My Account”

Upon successful login, locate and click on the “My Account” tab displayed on the dashboard.

Select “View e Filed Returns/Forms”

Within the “My Account” section, opt for the “View e Filed Returns/Forms” option.

Choose the Relevant Assessment Year

Specify the assessment year for which you wish to view the ITR Intimation.

View Intimation

Click on the acknowledgment number associated with the filed return. This action will redirect you to the details of your filed return, where you’ll find a link to view the Intimation under Section 143(1).

Download the Intimation

You can then proceed to view and download the ITR Intimation in PDF format for your reference.

Check Your Email

It’s advisable to also check your email inbox, as the I-T Department frequently sends email notifications to the registered email address once the Intimation becomes available.

Remember to retain a copy of the ITR Intimation for your records. It contains crucial information regarding the computation of your total income, tax payable or refundable, and any adjustments made by the I-T Department.

Please note that the ITR intimation is password protected. The password required to open the attachment/file received is your PAN number in lowercase followed by your date of birth in DDMMYYYY format. For example, if your PAN is XYZPB1234C and your birth date is 15th March 1999, then the password would be “xyzpb1234c15031999.