A Guideline To Responding To I-T Notice Under Section 143(1) - IN PICS

After paying taxes, the Income Tax Returns (ITRs) are electronically processed and cross-checked with the information available with the I-T department to check for irregularities

Once verified, the taxpayers receive intimations under the Section 143(1) of the I-T Act and this requires them to pay complete attention.

The taxpayers need to ensure that their reported income and the one shared in the notice match. Getty

To avoid any problems, the taxpayer should ensure that they respond to the Section 143(1) notice within the stipulated time period of 30 days. Getty

Taxpayers should cross-check all the personal information and assessment year mentioned in the notice and with the e-filing acknowledgment number. Getty

Any revisions needed for errors in the original filings should be done within 15 days and the corrected returns should be filed with the authorities in time. Getty

It is crucial to understand why the notice has been issued and what irregularities it mentions between the reported income and the documented sources. Getty

If there are any demands made for additional tax payment, these should be taken seriously and adhered to in time as failure to do the same can attract heavy penalties. Getty

It remains crucial to engage with the Section 143(1) intimations promptly and avoid any distress caused by inaccurate tax assessments. Getty

Adjustments under Section 143(1) are limited to the ones visible from the records and any legal matters remain outside its purview. Getty