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Tax Intimation services in Chennai, income tax intimation u/s 143, Tax e-filing

Income tax sec 143

Returns e-filing, Returns filing, income tax sec 143, ITR V, efiling ITR, ITR status, how handle intimation 143(1), how deal intimation 143" notice u/s 143, Income Tax Return filing season for certain class of assesses including individuals not falling under tax audit provisions has just been over and by now the Income Tax Department (the Department) has already started processing of these returns. In fact, return filing and processing thereof are an ongoing process for different class of assesses. At times, income tax payers get intimation of demand from the Department u/s 143(1). Following is the text of section 143(1) of the Income Tax Act, 1961;

income tax sec 143, ITR V, efiling ITR, ITR status, how handle intimation 143(1), how deal intimation 143" notice u/s 143

“Where a return has been made u/s 139, or in response to a notice under sub-section (1) of section 142, such return shall be processed in the following manner, namely:—

(a) the total income or loss shall be computed after making the following adjustments, namely:— (i) any arithmetical error in the return; or (ii) an incorrect claim, if such incorrect claim is apparent from any information in the return;
(b) the tax and interest, if any, shall be computed on the basis of the total income computed under clause (a);
(c) the sum payable by, or the amount of refund due to, the assesses shall be determined after adjustment of the tax and interest, if any, computed under clause (b) by any tax deducted at source, any tax collected at source, any advance tax paid, any relief allowable under an agreement u/s 90 or section 90A, or any relief allowable u/s 91, any rebate allowable under Part A of Chapter VIII, any tax paid on self-assessment and any amount paid otherwise by way of tax or interest;
(d) an intimation shall be prepared or generated and sent to the assesses specifying the sum determined to be payable by, or the amount of refund due to, the assesses under clause (c); and (e) the amount of refund due to the assesses in pursuance of the determination under clause (c) shall be granted to the assesses:

Tax Intimation services in Chennai, income tax intimation u/s 143

Tax e-filing, Tax filing, Returns e-filing, Returns filing,income tax sec 143, ITR V, efiling ITR, ITR status, how handle intimation 143(1), how deal intimation 143" notice u/s 143

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