Respond to Income Tax notice, or face recurring penalties: Experts

• March 23, 2021
• CA Chandan Agarwal's Office

Last week the Income Tax Appellate Tribunal (ITAT) reiterated that notices issued under Section 143(2) of the Income Tax (I-T) Act must be served to assessees within six months. When the I-T department finds discrepancies in a taxpayer’s I-T Return (ITR), it issues a notice under Section 143(1), 143(2), or 143(3). Many taxpayers have received them in recent days.

When you get such a notice, it can be scary. Stay calm and respond with the appropriate documents in support of your case. Section 143(1): Once you file your ITR, the Central Processing Centre (CPC), Bengaluru, processes it …

Source: https://www.business-standard.com/article/pf/respond-to-income-tax-notice-or-face-recurring-penalties-experts-121032300030_1.html