5 Simple Steps to Income Tax Notice

Preparation of Corrective ITR

Prepare Demanded Document

Make Payment Whenever Required

Upload ITR

Get Acknowledgement

Minimum Requirments

Copy of Notice which has been received by Assessee
Copy of old ITR which is Earlier Filed
Income Statement
Balance sheet
TDS Certificate
TDS Return (all Quarters)

Basic Documents

Books of Accounts

Audited Balance Sheet with all schedules
Various Ledger from Books of Accounts
Bank Reconciliation Statement with Bank Statements
Proof of Various payment as Salary, Freight, Donation, Professional Fee, Sales Commission, etc.

Basic Features

Section 139(9): Defective Income Tax Return

Defective Income Tax Return: An Intimation From the Income Tax Department is Given to Assessee when Return filed by an assessee is Found Defective.

Section 131(1 A): Income is concealed or likely to be concealed

If you AO is of the opinion that you are concealing the income or likely to conceal income then you will receive income tax notice u/s 131(1A). This notice is basically intimation that AO is initiating an inquiry or investigation into the matter.

Section 142(1): Preliminary Inquiry before an assessment

Section 142(1) tax notice is the notice that is usually served, in a case where the return has been filed, to call for further details and documents from the assessee and to take a particular case under assessment.

Section 143(2): Follow up to the notice u/s 142(1)

The notice u/s 143(2) might ask you to produce documents in support of deductions, exemptions, allowances, and reliefs, other claims of loss you have made and provide proof of all sources of income.

Section 148: Income escaped assessment

The power of assessment or reassessment of any income chargeable to tax that has escaped assessment has been provided under section 147 r w s 148 of Income Tax Act of 1961.

Section 156: Notice of Demand

Where any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed, the AO shall serve upon the assessee a notice of demand, specifying the sum do payable.

Section 245: Refund adjusted against the tax demand

If you are the recipient intimation under section 245 from the Income TAX Department then it means the Assessing Officer (AO) has cause to believe you have an outstanding demand from previous assessment years, that he proposes to adjusted against the current year’s tax refund due to you.

Consequence to not respond: In case of delay in payment of tax, the assessee shall be deemed to be in default and liable to pay simple interest u/s 220(2) @ 1% for every month or part thereof from the end of the period allowed u/s 156, further penalty u/s 221(1) may be imposed.

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