Income Tax Notice Management

Income Tax Notice is a communication from the IT Department indicating discrepancies or issues in your tax return. Common reasons include unreported income, incorrect deductions, or using an inappropriate ITR form. If you receive such a notice, it’s crucial not to panic.

At Wealth4India, we provide expert guidance and personalized solutions to address and resolve these tax concerns promptly and effectively, ensuring your compliance and peace of mind.

When May Taxpayers Get An Income Tax Notice

Income Tax Notice is a formal communication from the IT Department alerting taxpayers about discrepancies or issues in their tax returns.

Failing to file your ITR

Not disclosing all or part of your income

Errors or discrepancies in your returns

Mismatch between TDS values and filed income tax returns

Request for specific documents or information

Potential audit under section 143(1) of the IT Act

Investing in the spouse’s name without reporting it

Not reporting high-value transactions

Failing to report capital gains/losses from investments

Using the wrong income tax return form

Tax evasions in previous financial years

Not reporting the sale/purchase of property

Liability for self-assessment tax

Any other reason deemed fit by the assessing officer

Mismatch with Annual Information Statement (AIS) or Taxpayer Information Summary (TIS)

Notice Under Section 139(9)

This notice is issued for defective returns. If there are any mistakes or missing information in your filed return, you will need to rectify it within a specified period.

Notice Under Section 142(1)

This is a preliminary notice to gather additional information or documents about your income. It can be sent before the assessment begins or during the assessment process.

Notice Under Section 143(1)

This is an intimation sent after the preliminary assessment of your return. It details any discrepancies found and demands the payment of tax, interest, or a refund.

Notice Under Section 143(2)

This notice is sent if your return is selected for a detailed scrutiny assessment. It means that the IT Department will thoroughly examine your return and the accompanying documents.

Notice Under Section 148

If the IT Department believes that some income chargeable to tax has escaped assessment, this notice is issued for reassessment. It requires you to file your return for the specified assessment year.

Notice Under Section 156

This is a demand notice for tax, interest, penalty, or any other amount due. It specifies the amount payable and the due date for payment.

Notice Under Section 245

This notice informs you about the proposed adjustment of refunds against any outstanding demand. You have the option to respond within a specified period if you disagree with the adjustment.

Notice Under Section 131(1)

This notice is issued to investigate or enforce the attendance of any person or production of books of accounts and other documents. It is typically used in cases of serious discrepancies or suspected tax evasion.

Online Income Tax Notice Solutions