INCOME TAX NOTICES

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INCOME TAX NOTICES

INCOME TAX NOTICES

After filing of income tax return by the taxpayer, it is processed by the Income tax Department. If there is any mistake/ error/ discrepancy noticed in the Income tax return filed, then the same is intimated to the taxpayer by the means of an income tax notice.

Following are few consequences for ignoring notice or demand from income tax department:
If assessee does not comply with the provisions of section 142(1) or 143(2)then it may result in a penalty of Rs 10,000 for each failure or prosecution under Sec 276D which may extend up to 1 year with or without fine.

If assessee does not comply with the provisions of section 139(9) then in case of delay in payment of tax, the assessee shall be deemed to be in default and liable to pay simple interest @ 1% for every month, further penalty may also be imposed.

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Frequently Asked Questions

How to know my Jurisdictional Assessing Officer details?

To know your Jurisdictional Assessing Officer details -> Please log on to https://www.incometaxindiaefiling.gov.in and click on “Know Your Jurisdictional AO” under “SERVICES” menu.

How much time is normally taken to resolve the Income tax notice received by me?

There is no specific timeline defined by the Income tax department for resolution of any notice issued. It would entirely depend on various factors such as processing time of the department, response time by the assessee etc.

How can i approach the Income tax Department from outside India in case of notice?

Nowadays submitting a response to an Income tax notice has become online and you can do so from anywhere in the world. In case you are required to be present at an Income-tax office and you are unable to do so, your authorized representative in India can present before the assessing officer along with all your relevant documents.

What are the documents required to reply to an Income tax notice?

The documents required vary with the type of Income tax notice on a case to case basis. However, the basic documents needed to reply for any Income tax notice would be:

The Income-tax notice copy
Income source proof such as Form-16 (part-b), salary receipts etc.
TDS certificates, Form-16(part-a) etc.
Investment proofs if applicable

Question 3

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INCOME TAX NOTICES