Income Tax Notice
Income Tax Notice are in the form of Intimation under section 143(1) or in the form of proper notice under section 143(2), 142(1), 148 or 245.
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Income Tax in India is a Direct Tax Law governed by Income Tax Act 1961 along with rules notification and circulars issued till date, this is regulated by the Central Board of Direct Taxes (CBDT) through Jurisdiction Officers and Commissioners located throughout the country.
Considering the proper determination and payment of taxes, Income Tax Act provide self-assessment and declaration opportunity to every tax payer, however, for governing and administrating the revenue law there exist certain Income Tax notice which are issued by proper jurisdiction officer within specified timelines to call for and make an assessment of income and its applicable taxes thereon.
Let’s discuss in details what are the Income tax notice can be issued by Income tax department:
- Intimation under section 143(1)
- Notice under section 143(2)
- Notice under section 142(1)
- Notice under section 148
- Notice under section 245
- Arithmetical error if persist in the return
- Any incorrect amount mention in exemption column as apparent from the return
- Disallowance of any incorrectly claimed loss or expenditure
- Any income which has not been included in the return