INCOME TAX NOTICE

Income Tax Notice is a kind of notice sent by the Income Tax Department for various reasons like not filing your income tax return, errors in an income tax return, high-value transactions, deficiency in returns etc.

Types of Income Tax Notice:

• Notice u/s 143(1): Intimation Notice - This notice is issued when there are errors/incorrect claims and/or inconsistencies in income tax returns filed.
• Notice u/s 142(1): Inquiry Notice - This notice is issued when necessary additional documents are required by the income tax department for processing of a filed income tax return.
• Notice u/s 143(2): Scrutiny Notice - This notice is issued after issuance of notice under section 142(1), when the Income tax department officers are not satisfied with the documents furnished to them.
• Notice u/s 148: Income escaping assessment Notice- If the assessing officer has reason to believe that the assessee has not furnished details of his/her income correctly in Income Tax Return, then the Tax officer issues notice u/s 148 asking the assesse to furnish correct details.
• Notice u/s 156: Demand Notice - Notice of demand is issued by the Income Tax Department when any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed. The AO shall serve upon the assessee a notice of demand, specifying the sum so payable.
• Notice u/s 139(9): Defective Return - If the Income-tax return filed by assessee is defective, the AO serves a notice to assessee asking him/her to rectify his return within 15 days from the date of such intimation.