Income Tax Notice

Income Tax Notice

Have you been served a notice by the Income Tax Department? If yes, do not worry because there is no need to get panic. We at Compliance Calendar LLP have a full-fledged team of experienced Chartered Accountants who can help you in replying to the income tax notice and further assist you as and when required.

If the Income Tax Department is not satisfied with your particulars in the Income Tax Returns (ITR) or if they have a question/ doubt for you, they can send you a notice, letter or in serious cases even summon you.

According to our team of tax experts who are mostly Chartered Accountants, you should not get very much panic if you get served a notice from the income tax department seeking details of a transaction or source/proof of some income.

Income Tax Department might have found certain discrepancies in data, errors in calculations, wrong entry of certain data, etc. In such cases, the Income Tax Department issues a notice otherwise known as Intimation Order. Sometimes, even a minor error in tax return can cause you receive a notice from the tax department.

Further, considering the spike in the number of notices being served on income tax assessees, it becomes prudent that you should consult a qualified Chartered Accountant who can look after your notice and guide you professionally as to how the same can be replied and resolved even if it includes Liaisoning with the Income Tax Department.

Income Tax Notice is a means of communication of the Income Tax Department regarding any queries or assessment needed. It should always be taken seriously by taxpayers. Let us help you in resolving the same for you.

Get in Touch with a Chartered Accountant at Compliance Calendar LLP.

Documents Required

  • The notice/ intimation served to you at the first place.
  • The copy of last income tax return filed with the Income Tax Department and their computation (including of previous years if it becomes necessary).
  • Copy of documents regarding income and investments claimed in the return.
  • Proof of all deductions claimed while filing Income Tax Return.
  • Depending on the nature of notice, we may require some other information and documents as well.

As the number of people filing the ITR increasing, the quantum of the notices is equally progressing. That's why the scope for non-disclosure of income, high-value transactions and non-filing/defective filing of returns has become very common.

  • You should respond to notice within the stipulated time period failing which can even worsen the situation. If you agree to the errors mentioned, then you can file for rectification and if you feel you have received the intimation erroneously you can file a grievance.
  • It is very much required that you should reply to the notice within the stipulated time. Generally, 30 days are given for reply by post, online or in person. We as a team of tax expert can help you if your feel much complexities involved.
  • If there is Outstanding Tax Demand Status, the Taxpayer can submit the response online to the outstanding demand by either choosing to Agree or Disagree with the demand.

An income tax notice can come under the following sections chiefly:

  • Under Section 142(1) when your return is selected for scrutiny. You will be given a notice where many questions and documents are asked by the assessing officer.
  • Under Section 142(2A) when you can be given notice for the requirements of special audit of your accounts.
  • Under Section 131 when you do not attend any proceeding by the Investigation wing officer and this notice can be issued.
  • Under Section 133(6) when you may be asked further information.

It is required that as soon as you receive any notice from the Income Tax Department, you should be quick to understand its nature. We can help you ease the situation as we have had ample experience in our day-to-day practice with our years of practicing in taxation fields. Consequences of not complying with these notices can get you penalties and even imprisonment of various severities.

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