Income tax notice reply services

Services provided for Income Tax notice reply at K M Gatecha & Co LLP:

• Analysis of notice received,
• Recommend course of action for reply,
• Collection of documents,
• Preparation of reply,
• Submission of reply to Income tax Department,
• Response to any queries raised by the Income Tax officer,
• Completion of reply and outcome.

Reasons for getting an Income Tax notice:

• Delayed I.T. return filing,
• T. return filed is deemed defective,
• Withholding information about investments made in name of spouse,
• High-value transactions which come under scrutiny,
• Mismatch in filed TDS from the amount appearing in Form 26AS,
• Tax evasion in previous financial years,
• Non-disclosure of income according to department,
• If returns filed are put under scrutiny,
• Clarification or re-assessment required in filed return or reply.

Basic documents required for Income Tax Notice reply services:

• Income tax notice,
• Form 16,
• Form 26AS tax credit statement,
• Copy of paid tax challan,
• Supporting documents required for the specific Income Tax Notice.

Importance of Income Tax Notice reply services:

• Income tax notices are generated as there is a difference between the I.T. return filed by the taxpayer and the I.T. evaluated by the department for any reason.
• The Income Tax Notice reply has to be filed to clarify or rectify the difference between both.
• If Income tax notice is not filed withing stipulated time of receiving the notice then the taxpayer has to pay huge penalty apart from the tax difference raised by the department,
• To avoid the above consequences the taxpayer has to file an income tax notice reply on time,
• The income tax notice reply is a complex process and thus taxpayers’ avail of Income tax notice reply services to make the process hassle-free and efficient.

Types of Income Tax Notices:

• Income tax intimation Section 143(1):
  • Intimation submitted by Income tax department after filing and processing or Income tax return.
• Announcement of income (Section 143 (1) (a)):
  • A request for answers if there are any errors or inconsistencies in the filed return.
• Notice of Income Tax (Section 139 (9)):
  • Notice issues when return on income tax (self-assessment tax) is filed.
• Rectification under section 154:
  • When the income tax is filed and there is an error such as no TDS credit.
• Income tax notice under section 245:
  • Notice sent to inform taxpayer of adjustment of refund against the income tax claim.
• Income tax notice under section 142 (1):
  • Notice generated to obtain specific documents or information from taxpayer.
• Income tax notice under section 148:
  • When the income tax officer has enough evidence to deduct that the taxpayer’s income has avoided assessment.
• Income tax notice under section 156:
  • Issued after income tax assessment is completed and order is issued.
• Contribution notice following Article 143(2):