Section 1431a Of Income Tax

Section 143 1 of the income tax act provides that where a return has been made under section 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.
Section 1431a of income tax. Following is the text of section 143 1 of the income tax act 1961. At times income tax payers get intimation of demand from the department u s 143 1. According to the provisions of income tax act 1961 read with section 143 1 a where any assessee files its return of income not correctly and by mistakenly it provides the details of income and deductions in such case the notice would be issued.
This notification or intimation is issued under the following circumstances. 143 1 a are issued by income tax department without detailed analysis. In this article we have written about one such intimation u s 143 1 of income tax act.
Under section 143 1 the tax department completes the assessment without calling you to the department. S vasudevan partner lakshmikumaran sridharan attorneys told moneycontrol that section 143 1 of the income tax act 1961 provides for processing of a return of income in determining the total. If there is a income tax refund due to you it would be reflected in the intimation notice as well.
The last thing a taxpayer expects is any sort of communication from the income tax department. Intimation under section 143 1 is proof of processing of your income tax return. 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.
But one should remember that information from tax department needn t necessarily be a notice or a notice needn t necessarily be asking you to appear or pay taxes. Once the income tax department has processed your income tax return itr it sends you an intimation notice under section 143 1 of the income tax act. Check your registered mail id or login in the income tax website to check the status of your income tax return where you can download the intimation under section 143 1.