Income Tax Notice/Intimation 143(1): The Income Tax Department has started processing the income tax returns filed by the taxpayers . Therefore, the Income Tax Department is informing the taxpayers by sending them a notice under section 143 (1) of the Income Tax Act via e-mail.
Such a notice comes to every taxpayer. If you have not received this notice, then you can assume that your return has not been processed yet. The intimation or notice states whether the ITR you have filed is correct or not. If it is not correct, then the reason for the same is also given in the notice.
After receiving the notice, many taxpayers think about what they have to do now and how to respond to the notice. So today we will answer all these questions.
What to do if you receive an Income Tax Notice?
If you have also received a notice under section 143 (1), then do not panic. First of all, read the notice carefully to know what is written in it. If you had filled any wrong information by mistake while filing ITR, which is mentioned in the notice, then correct it and file the revised return before the last date. Generally, the last date for filing revised income tax return is 31 December.
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What can happen in the intimation?
The department can give you 3 types of information through income tax notice:
1. You do not have to pay any additional tax: If your calculation and the department’s calculation match, then the tax liability and refund will be shown as zero in the intimation.
2. Demand for additional tax:Â If the details of your income or deductions filled by you while filing the return do not match the information available with the income tax department, then the department can demand additional tax and interest from you.
3. You will get a refund:Â If you have paid excess tax, the Income Tax Department will issue you a refund, which would be mentioned in the intimation.
ITR Intimation Password
The Income Tax Intimation document is password protected i.e. it cannot be opened without a password. To open it, enter your PAN number (in lower case) and date of birth (in the format of DDMMYYYY) as the password.
uppose if your PAN number is “ABCDE0000A” and your date of birth is 2nd April 1990, then your password will be “abcde0000a02041990”.
How to respond to intimation?
While responding to income tax intimation received under section 143(1), keep the following points in mind:
- First of all know the reason for income tax intimation.
- Attach proper explanation and necessary documents with your answer.
- Submit your reply online on the Income Tax e-filing portal within the given time limit.
- Also keep a copy of your answers and submitted documents safe with you.
What to do if intimacy is not received on time?
If the Income Tax Department does not process your ITR on time or does not send you an intimation, you can register your complaint by visiting the Income Tax portal. It is important to respond to the intimation or notice received from the Income Tax Department on time, so that you do not have to face any problem in the future.
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