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Earendil | Income Tax Notices Resolution

The Income Tax Department would send Income Tax Notices

  • Delay in filing of Income Tax Return.
  • Errors in reporting Capital Gains from in investments such as equity or mutual funds.
  • Tax Deducted at Source (TDS) claimed not matching with 26AS.
  • Non- disclosure of income.
  • Not declaring investments made in the name of the spouse.
  • Filing defective returns.
  • High Value transactions done during the year.
  • Income tax return selected for scrutiny by tax officials.
  • Setting off refunds against remaining tax payable.
  • Tax evasion.
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Why register with Earendil

  • Our Chartered Accountant will be guiding you through the process. He/she will be your single point of contact for registration assistance and for all other services that we offer.
  • Our motto is “You only do what you do best; to us, leave the rest”. We assure that once we start our relationship, you wouldn’t have to think about the areas which we handle.
  • We will guide you to ensure proper documentation is prepared and prompt response and follow up is done with the tax authorities.
  • We will also ensure that guidance is given to ensure such notices are avoided in the future.


TYPES OF INCOME TAX NOTICES

Notice under Section 143(1) of the Income Tax Act,1961- Intimation

Under this notice, the Income Tax Department sends a notice seeking response towards the errors/ incorrect claims/ inconsistencies in an income tax return that was filed. The Income tax department also sends a revised tax computation based on the its workings. Revised tax filing should be done within 15 days of receipt of tax notice otherwise the tax return will be processed after making the adjustments in the notice sent.

Notice under Section 142(1) of the Income Tax Act,1961 – Inquiry

This notice is sent by the Income Tax Department to gather additional information and documentation from the assessee. The notice is sent after filing of returns by the assessee and further documents are needed to be produced to complete the filing process.




Notice under Section 139(1) of the Income Tax Act,1961- Defective Return

In case of instances where the Income Tax Return filed does not contain necessary information or incomplete information, a notice under Section 139(1) of the Income Tax Act,1961 would be sent to the assessee. The assessee would have to file revised returns within 15 days of receipt of notice by rectifying the defects mentioned in the notice


Notice u/s 143(2) of the Income Tax Act,1961 – Scrutiny

Assessees who have been sent notice under Section 143(2) have been selected for a detailed scrutiny and are required to submit additional information. Notices are sent if the Tax Officer is not satisfied with the documents and information submitted by the assessee.

Notice u/s 156 of the Income Tax Act,1961 – Demand Notice

The demand notice is sent by Income Tax officers to assessees in case of any tax, interest or any other amount is owed by the assessee. The demand notice will provide the sum which is due from the assessee.