If you happen to make a mistake on your Income Tax Return (ITR) that you filed, don’t be surprised if the tax department sends you a notice. This is basically a letter from them to bring something to your attention. Now, there are six main types of these notices that people who earn a salary might receive:
- Intimation Notice (Section 143(1)): This notice comes after the tax department goes through your ITR. They compare their calculations with yours. If there are any differences, they let you know. If you need to get a refund or if you owe more taxes, they explain that too. Interestingly, you could even get this notice without any mistakes on your part. It usually arrives within nine months after the financial year ends.
- Defective ITR Notice (Section 139(9)): If the ITR you filed has mistakes, this notice pops up. They ask you to fix those errors by sending in a corrected ITR. This could be things like saying you paid less rent for your house or forgetting to tell them about some money you earned. They can send this notices within nine months after the financial year too.
- Inquiry Notice (Section 142(1)): If you earned more money than the amount where you don’t have to pay taxes, and you didn’t file your ITR, they might wonder why. This notices is like them asking, “Hey, why didn’t you tell us about your earnings?” You might need to show them your accounts, papers, and other stuff. You usually have about 15 days to answer.
- Scrutiny Assessment Notice (Section 143(2)): This notice comes if the tax department wants to take a closer look at your ITR. They want to be sure everything’s correct. They might ask you questions and want you to show them documents. They can send this notice within three months after the financial year.
- Income Escaping Assessment Notice (Section 148): If they think you forgot to tell them about some money you earned in the year before, they’ll send you this notices. But before they do that, they’ll ask you why they shouldn’t look at your case again. The time they can send this notice varies, depending on how much money you earned, from three to ten years.
- Adjustment Notice (Section 245): This notice is about using any refund you were supposed to get this year to pay off any taxes you owe from the past. If you don’t agree or if you’ve already paid, you can tell them. There’s no fixed time for when they can send these notices.
Remember, these tax notices usually have a certain time limit for when they can be sent. So if you get one, make sure to reply within the time they mention. Sometimes these notices might show up late, so check if the time they’re giving you is still valid when you receive it. It’s all about keeping things fair and square in the world of taxes!
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