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How to deal with Intimation under Section 143(1)(a) of Income Tax ?
A taxpayer should not fret if they receive such an intimation. They should check for particulars and see if the details mentioned do belong to them such as name, PAN number, and assessment year. The second step would be to check if the notice was sent either due to tax refundable or tax payable. In cases of tax refundable, only those values exceeding Rs. 100 will be refunded and this refund will be paid out in due course of time without the taxpayer having to provide any additional details. If the notice was sent due to tax payable, then the taxpayer needs to see the cause of discrepancy. These causes may be due to simple arithmetic errors, inadequate documents submitted, undeclared sources of income, or deductions filed under the wrong sections. If the computation seems satisfactory, then the taxpayer must proceed to pay the tax difference immediately but if the taxpayer is unhappy with the computation made and would like to refute the notice then they can consult with a competent CA and contact their income tax officer.
How to deal with Intimation under Section 143(1)(a) of Income Tax ?
A taxpayer should not fret if they receive such an intimation. They should check for particulars and see if the details mentioned do belong to them such as name, PAN number, and assessment year. The second step would be to check if the notice was sent either due to tax refundable or tax payable. In cases of tax refundable, only those values exceeding Rs. 100 will be refunded and this refund will be paid out in due course of time without the taxpayer having to provide any additional details. If the notice was sent due to tax payable, then the taxpayer needs to see the cause of discrepancy. These causes may be due to simple arithmetic errors, inadequate documents submitted, undeclared sources of income, or deductions filed under the wrong sections. If the computation seems satisfactory, then the taxpayer must proceed to pay the tax difference immediately but if the taxpayer is unhappy with the computation made and would like to refute the notice then they can consult with a competent CA and contact their income tax officer.
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