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People become careless after filing income tax return that now there is no tension, but it is not so. Notice can come even after filing the return. Taxpayers get many types of notices. Notice can come if there is a difference between tax and income. If you claim a huge refund in the return, then a notice can be served. Let us know how many types of income tax notices are there and why they come?
How many types of income tax notices are there?
There are many types of income tax notices. It depends on whether the notice is being sent to a person, business or company. There are about 15 to 20 types of notices. Some of these notices are such that are sent to the individual. Let us know about some of the selected notices that usually come…
Section 142: If a person has not filed ITR, then the Income Tax Officer under section 142 Can ask to file return by giving notice. Notices can also be sent under this section to seek minor information or clarification.
Section 143 (2): This is a notice of scrutiny. This means that the Income Tax Department wants some more in-depth information from you. Under this, many information like Book of Accounts, Bank Statement can be sought. Assessment will be done on the basis of these. This notice comes only after filing the return. Most scrutiny notices come.
Section 144: This is called Best Judgment Assessment. If you have not filed ITR or have not responded to the notice issued under 142 or 143 (2), then the Income Tax Officer can send a notice under section-144. In such a case the officer can assess the income and levy tax, interest and penalty on it on the basis of available information.
Section 147/148/149: If the officer feels that Some income has not been included in the earlier assessment of your income or if you have any such income which has not been disclosed earlier, then these notices may come.
Section 143(1) : Under this notice comes when you have made a mistake in ITR or have given wrong information. In such a situation, the Income Tax Officer issues a notice and asks your side. If not satisfied with the answer, your income can be increased or deduction can be reduced.
Also, section 139(9) for defective return, Section 153(A) for search and seizure, tax Notices can be sent under section 131 (A), section 156 if interest or penalty is due, and section 131 (A) if there is suspicion of concealment of income.
Why do taxpayers get notices?
< p>Taxpayers can get notices for many reasons. The first major reason is that you have hidden some kind of income from the Income Tax Department and the second reason is to make a mistake in the income tax return form. Sometimes notices are also given for some arithmetical errors like addition or subtraction.
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