How do I respond to an ITR notice?

How do I respond to an ITR notice?

Step-by-Step Guide to Respond to a Demand Notice

1. Step 1 : Login to your e-filing account on www.incometaxindiaefiling.gov.in with user ID and password.
2. Step 2: Click on ‘E-file’ and go to ‘Respond to Outstanding Tax Demand’.
3. Step 3: Click on ‘Submit’ for the relevant assessment year.
4. Option 1 – Demand is correct.

What happens if you don’t respond to income tax notice?

If you don’t respond to the tax notices within the time allotted, there can be various implications. “Non-compliance of a tax notice would attract penalty of ₹ 10,000 and may lead to judgement assessment by the tax officer,” said Agarwala. In some cases, “prosecution up to one year may also apply,” said Gupta.

What is notice under section 148 income tax?

According to Section 148 of the IT Act, any income tax computation that has not been recomputed or reassessed will receive a notice from the IT department. This section further mentions that an Assessing officer will get in touch with the assessee.

Can return filed under section 148 be revised?

Return filed in response to notice u/s 148 can also be revised: Return filed in response to notice u/s 148 can also be revised, as it is provided u/s 148 that for such return all the provisions of section 139 shall apply. It is to be noted that notice u/s 148 is issued for the assessment of the escaped income.

How do I respond to outstanding tax demand?

Respond to an Outstanding Demand

1. Go to the ‘e-File’ menu and Click ‘Response to Outstanding Demand’
2. Click the hyperlink ‘Submit’ located under ‘Response’ column (To respond for the Outstanding Demand)
3. Choose any one of the listed responses.

How do I respond to a non filing of income tax return?

How to reply to non-filing of Income Tax Return Notice AY 2019-20?

1. Login to your e-Filing account at incometaxindiaefiling.gov.in with your user name and password.
2. Click on ‘Compliance Menu Tab’.
3. Click on ‘View and Submit Compliance’ to submit your response to the non-filing compliance notice. (

What happens if I do not respond to the intimation within 30 days of receiving the intimation?

What happens if I do not respond to the intimation within 30 days of receiving the intimation? If you do not respond to the intimation within 30 days, your Income tax return would be processed by making the necessary adjustments.

What is Section 147 of Income Tax Act?

Section 147 of the Income Tax Act, 1961 provides for the reopening of assessment proceedings. This section gives discretion to the Assessing Officer (AO) to reopen the assessment proceedings when he/she has reason to believe that some of the income has escaped assessment.

What is Section 149 of Income Tax Act?

Paragraph 149(1)(l) exempts a club, society, or association that is not a charity and that is organized and operated solely for either: social welfare. civic improvement. pleasure or recreation.

What are the powers of assessing officer?

Powers of assessing officer Under Section 131

• Discovery and inspection.
• Enforcing the attendance of any person, including any officer of a banking company and examining him on oath.
• Compiling the production of books of accounts and other documents.
• Issuing commissions.

Who can issue notice u/s 148?

The notice will be issued by the Assessing Officer before the expiration of a four year period from the conclusion of the assessment year of connectedness, provided the subject financial gain that has evaded assessment is not more than Rs. 1 Lakh.

In what circumstances reassessment is done?

Reassessment means reopening the already completed assessment on fulfillment of certain conditions and reassess the total income of the assessee by including the income which has escaped earlier assessment. An assessment once made can not be tampered by the AO at his will and pleasure.

When is a notice issued under Section 148 of the Tax Act?

Section 149 of the Income Tax Act, provides that the notice under section 148 could be issued within a period of 4 years from the end of relevant AY (assessment year) in case the income so escaped doesn’t exceed INR 1 lac.

What does section 147 of the Income Tax Act mean?

As per Section 147 of the Income Tax Act, 1961, the Income Tax Department has the power to reassess an individual’s previously filed income tax returns. The Assessing Officer could pick your income tax return for reassessment subject to some pre-defined criteria by sending a notice under section 148 for income Escaping Assessment.

How is reassessment done under the Income Tax Act?

The Income Tax Department is empowered under Section 147 of the Income Tax Act, 1961 to reassess an individual’s previously filed income tax returns. The Assessing Officer could pick your income tax return for reassessment subject to some predefined criteria by sending a notice under section 148 for income Escaping Assessment.

What to do if you receive notice you / S 147?

In case if you feel that the notice is not validly served or the reasons provided by the AO for opening the assessment u/s 147 are not proper then you can challenge the validity of the notice sent to you before the AO or higher authority as the case may be. If you win this case, the Court will halt the assessment proceedings.