Notice u/s 148 of Income Tax Act
You can get notice u/s 148 if the assessing officer has a reason to believe that your income which was chargeable to tax has escaped assessment. If he has materials to support his belief, he will record his reasons in writing and send you a notice u/s 148. The AO cannot simply change his mind and decide to re-investigate your case without any valid reason.
Notice under Section 143(2)
The purpose of this notice is to notify the assesse that the return filed has been picked for a scrutiny. It is pertinent to note that the section under which it will be scrutinized is different from the one in which the notice has been issued. Via a detailed scrutiny, the assessing officer intends to be assured that you have not done any of the following:
- understated your income;
- claimed excessive loss; or
- paid lesser taxes
Notice u/s 142(1)
The basic purpose of section 142(1) tax notice is to inquire the details of the assessee before making an assessment under the Act. It is like a preliminary investigation. The reasons for the issuance of Section 142(1) Tax Notice can be:
- By issuing section 142(1) tax notice, the AO may ask an assessee to furnish his ITR in respect of income for which he is assessable, in case the assessee has not yet filed the return of income within the time allowed.
- The Assessing Officer may ask to produce accounts or documents which he may require for the purpose of making an assessment.
- The AO may also ask the assessee to furnish in writing any information on any matter which may include the statements. For Example-Statement of assets and liabilities on a particular date
Section 139(9): Defective Income Tax Return
- In this case, Assessing Officer is of the opinion that ITR filed by the assessee is defective. The best part is that a proper error description is shared and the AO also suggest a probable solution to rectify the same. The assessee is given an opportunity to respond within 15 days from the date of intimation or before it is assessed. If you don’t respond within 15 days then your return will be rejected by the AO. The defect u/s 139(9) can be the wrong ITR filed, missing information, incomplete return etc.
Section 131(1A): Income is concealed or likely to be concealed
If you AO is of the opinion that you are concealing the income or likely to conceal income then you will receive income tax notice u/s 131(1A). This notice is basically an intimation that AO is initiating an enquiry or investigate into the matter. The assessing officer can impound the books of account or other documents by providing reasons for the same. There is NO specific time limit to serve this notice.
Section 156: Notice of Demand
If any penalty, tax, fine or any other amount is due from the taxpayer to the income tax department then income tax notice u/s 156 is served. Normally this notice is served after the assessment of ITR. The taxpayer can deposit the amount payable within 30 days from the date of the income tax notice. There is no time limit to serve this notice. Income tax notice under section 143(1) and 200A are also referred as Notice of Demand.