Section 143(1) Of Income Tax Act

With the last dates to file the income tax returns most of the tax payers have already filed their income tax returns with the Income Tax department.  These returns are required to be filed by every person having the taxable income.  After the successful submission of the ITR with the income tax department the department conduct the review of the returns submitted in order to check for any errors. In case of minor errors the department may issue a notice to the taxpayer namely Intimation Sec 143(1). Through this blog we will understand everything about the Intimation Sec 143(1).

Section 143(1) Of Income Tax Act

Lawdef- Section 143(1) Of Income Tax Act

 What is Intimation order Under Sec 143(1)?

When an Income Tax return is filed with the income tax department there can be situation wherein some discrepancies or errors may be found out in the data filled returns. In case the errors are minor instead of calling the person filing the return the department just issues an Intimation order Sec 143(1) asking for looking out for errors.  In case you have received this letter there is no need to create a panic rather you can just required to clearly understand it and take the necessary action to correct the errors.

What is the time limit within which this order can be received?

The assessment order under this Sec 143(1) can be made within the period of 1 year from the end of the financial year in which the income tax return was filed.

What are the instances where you can get the intimation order Sec 143(1)?

There is not just one particular reason for which you may receive the intimation order from the income tax department rather there can be number of reasons for it. Here we will list out some of the major reasons for receiving the Intimation order-

  1. When the amount accounted by you in the returns does not match with the amount available in the records of the income tax department you may receive a intimation. The can be many reasons for which this difference may occur like you may have missed to some amount in return or the amount put us incorrect.
  2. A notice can also be received in case the amount paid by the assessee is less or more than the actual amount to be paid. In case the amount paid is less than the required amount than the assessee is required to make the balance payment within 30 days of receiving the intimation.
  3. The income tax department may also send the intimation for obtaining the documents, books of accounts for the purpose of scrutinizing the records. If the assessing officer is not satisfied with the documents submitted he may sent the notice informing the taxpayer for detailed scrutiny.
  4. The notice may also be sent demanding the payment of tax, penalties or interest.
  5. The notice can also be sent for the disallowance of certain deductions. Also, for the disallowance of loss claimed, if a return of the previous year for which set-off of loss is claimed was furnished beyond the due date specified under section 139(1).

How can respond to the Intimation notice received?

In order to respond to the intimation order the assessee is required to login into his account on the official website of Income Tax Department E-filing website.  Simply by logging in you can check for the discrepancy and in case you find that there is actually some error in your return you can correct it from there and in case there is no error or discrepancy you can go to grievances section.