Learn about Five Income Tax Notices from IT Department

Posted on Posted in Income Tax, Income Tax Return, Incometaxefiling

Learn about Five Income Tax Notices from IT Department

After filing the income tax returns or before filing the IT returns, the taxpayers receive some notices from the Income Tax department. There is a total of 5 types of notices that usually I-T department sends to the taxpayer. If you are unaware of the purpose of the notices, we are here to help you. Have a look!

Five Notices from Income Tax Department

Here is a list of the five income tax notices that usually the taxpayers receives from the Income Tax department:

Notice 1 – Assessment Intimation

Intimation of assessment is one of the most common or frequent types of notices from the Income tax department. Usually, the taxpayer receives this notice when the income tax returns that you have sent matches with the calculations by the Assessment officer from Bengaluru. In such a situation, an intimation notice sends to the taxpayer considering it as the final assessment. Most of the income tax payers hope to receive this notice from IT department. It is a demand notice that says you can get a refund amount. This assessment intimation is a notice under section 143.

Learn about Five Income Tax Notices from IT Department

Notice 2 – Faulty Return

If you get a notice under section 139, you need to consider it as an assumed defective notice. If you make any kind of mistakes or errors in your Income Tax Returns at the time of filing, then we consider it as a defective or faulty return. Regardless of the type of the defect, you can see a lengthy solution in the notice. After receiving the notice, you just have 15 days or 2 weeks of time to respond to the notice. In that period, you need to file a revised IT return or provide some reasons for your disagreement. If you do not respond with any kind of return notice, your ITR is invalid.

Notice 3 – Initial Inquiry

If you have not yet filed your income tax return, then you will receive this notice asking the payer to file the returns immediately. The tax payers who had already filed their returns also receive this notice under section 142 (1) so as to provide some essential documents to commence the assessment. You need to make sure that you provide all the essential documents at the time of filing. If you ignore it, it leads to additional penalties or fine.

Notice 4 – Refund Adjustment against Tax Payable

If there is any due in the amount that you need to refund, you receive this refund notice under section 245. The demand for the tax must be the same year or past year. There might be an adjustment in your tax amount or complete refund. If in case, there is an adjustment, you must have to file the return for additional tax.

Notice 5 – Unconfined Assessment Income

If in case, you receive this notice under section 148, then it indicates that the income tax department digging up that you have brilliantly escaped in the past. In such as case, you need to once again file the returns for the escaped assessment.

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