I received intimation from It Deptt.
What is the means of this
Notice under Section 143(1)
Three types of notices can be sent to you u/s 143(1):
1. Intimation where the notice is to be simply considered as preliminary assessment of your returns since the AO has found the return filed by you to be matching with his computation under section 143(1).
2. A refund notice where the AO’s computation shows excessive tax paid by you.
3. A demand notice where the AO’s analysis shows shortfall in your tax payment.
The notice will ask you to pay up the tax due within 30days.
Time limit for the notice to be served is up to 1 year after completion of relevant Assessment Year. Notice is sent after the expiry of one year from the end of the Financial Year in which the return is filed.
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