As per the Income Tax Act of 1961, all taxpayers in India – including individuals, firms, associations, Limited Liability Partnerships (LLPs), and Hindu Undivided Families (HUFs) – are required to file Income Tax Returns (ITRs) every year.
For individual taxpayers not covered under the tax* audits, the due date for ITR filing for every financial year is 31 st July of the next financial year. For example, for filing IT returns for the financial year 2021-22, the due date would be 31 st July 2022. In the case of individuals and companies covered under tax* audits, the due date for filing ITR returns is 30 th September.
However, the process of ITR filing does not end here. After you’ve filed your IT returns, the Income Tax Department will start the verification of your return. After successful verification, it will send you an intimation to notify you if you’re liable to get a refund from the IT department or if you need to pay any further tax*.
This intimation is sent under section 143(1) in the Income Tax Act on the registered e-mail id of the taxpayer. However, deciphering this intimation isn’t always easy. Here is a complete guide to reading the notice sent under section 143(1) and understanding what it means.
As mentioned before, you will receive the intimation sent under section 143(1) on your e-mail id registered with the Income Tax department. Your registered e-mail id is the one that you use for filing your income tax* returns.
Further, the income tax* department will also send an SMS to your registered mobile number to inform you that your tax intimation notice has been sent to your registered e-mail id.
Usually, you will receive your intimation under section 143(1) within a month after filing your income tax* return. However, sometimes it may take longer than a month. As per the existing income tax* laws in India, the income tax* department has to process the ITRs of assesses within one year after the end of the financial year in which they are filed.
It means that for ITRs filed for the financial year 2020-2021; the income tax* department has time till 31 st March of 2022 to send intimations under section 143(1).
In case you do not receive the intimation even after the 31 st March of the next financial year, it may be because of one of the two issues mentioned below:
After you’ve received the tax* intimation notice under section 143(1), you can download it on your PC or smartphone. You can also visit the official website of the income tax* department and click on “income tax intimation 143(1) download” to download your tax* intimation notice.
Then, you follow the steps mentioned below to open your intimation notice:
In case you’re liable to get a refund from the income tax* department, you’re not required to do anything. The refundable money will be credited directly to your registered bank account within a few months. The department will send you a notification once it processes the refund.
However, if you’re asked to pay any additional tax* by the department, you’re required to pay it within 30 days after receiving the intimation. If you miss this deadline, the department charges you with one of the following penalties:
We hope that this blog has cleared the air regarding the intimation sent under section 143(1) of the Income Tax Act. Earlier, taxpayers were required to make themselves physically available in the Income Tax office after receiving this intimation notice. However, thanks to the advancements in technology, you can now respond and make the payment online without any hassles.
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