Notice under section 143(2) of the Income-tax Act, 1961
This query is : Resolved
30 June 2025
Hi,
In e-proceedings, there are 2 notices
1) Notice under section 143(2) of the Income-tax Act, 1961
2) INTIMATION TO ASSESSEE FOR COMPLETION OF ASSESSMENT IN ACCORDANCE WITH
PROCEDURE OF SECTION 144B OF THE INCOME TAX ACT
Its very generic, and in the "What you need to do?" it says:
"You may submit or cause to submit any evidence on which you may rely in support of your return of income
electronically in 'e-Proceedings' facility through your account in e-Filing website (www.incometax.gov.in) at your
convenience on or before
It is advised that you should gather all the information, documents, evidences, etc. in respect of various financial
transactions you have entered during the Assessment Year under consideration, which may be relevant for the scrutiny proceedings. Detailed questionnaire(s) or communication may be issued during the course of
assessment proceedings. As and when questionnaire(s) or communication is issued, you are required to provide
specific point-wise response within the time specified."
What action is required from me at this stage?
My income was from F&O trading and interest from savings account. I am an NRI.
Do I have to upload generic documents like:
- Statement from Zerodha for F&O trading
- Bank statements from all the banks
Both the notices have "Submit Response". Do I have to upload the documents to both?
In e-proceedings, there are 2 notices
1) Notice under section 143(2) of the Income-tax Act, 1961
2) INTIMATION TO ASSESSEE FOR COMPLETION OF ASSESSMENT IN ACCORDANCE WITH
PROCEDURE OF SECTION 144B OF THE INCOME TAX ACT
Its very generic, and in the "What you need to do?" it says:
"You may submit or cause to submit any evidence on which you may rely in support of your return of income
electronically in 'e-Proceedings' facility through your account in e-Filing website (www.incometax.gov.in) at your
convenience on or before
It is advised that you should gather all the information, documents, evidences, etc. in respect of various financial
transactions you have entered during the Assessment Year under consideration, which may be relevant for the scrutiny proceedings. Detailed questionnaire(s) or communication may be issued during the course of
assessment proceedings. As and when questionnaire(s) or communication is issued, you are required to provide
specific point-wise response within the time specified."
What action is required from me at this stage?
My income was from F&O trading and interest from savings account. I am an NRI.
Do I have to upload generic documents like:
- Statement from Zerodha for F&O trading
- Bank statements from all the banks
Both the notices have "Submit Response". Do I have to upload the documents to both?
30 June 2025
Receiving a notice under Section 143(2) of the Income Tax Act means your Income Tax Return (ITR) has been selected for scrutiny assessment. This is a detailed verification process by the Income Tax Department to ensure that you have not understated your income, overstated losses, or underpaid your taxes.
Understand the Reason for Scrutiny:
The notice will typically specify the reason for the scrutiny. Common reasons include:
Mismatch in income figures between your ITR, Annual Information Statement (AIS), and Form 26AS.
High-value transactions not matching reported income.
Claiming large deductions or refunds.
Business losses without sufficient supporting documents.
Property sales/purchases without proper capital gains disclosure. (may not be applicable in this case)
Random selection by the Computer-Assisted Scrutiny Selection (CASS) system.
It is highly advisable to consult a Chartered Accountant (CA) or a tax consultant when you receive a Such notice, especially if the issues are complex, involve business income, or significant amounts. A professional can help you:
Understand the nuances of the notice.
Gather and organize the necessary documents.
Draft a legally sound and comprehensive response.
Represent you before the tax authorities (if required)
Refer: https://pkcindia.com/blogs/respond-to-income-tax-scrutiny-notice/
&/or https://tax2win.in/guide/income-tax-notice-us-143-2
Understand the Reason for Scrutiny:
The notice will typically specify the reason for the scrutiny. Common reasons include:
Mismatch in income figures between your ITR, Annual Information Statement (AIS), and Form 26AS.
High-value transactions not matching reported income.
Claiming large deductions or refunds.
Business losses without sufficient supporting documents.
Property sales/purchases without proper capital gains disclosure. (may not be applicable in this case)
Random selection by the Computer-Assisted Scrutiny Selection (CASS) system.
It is highly advisable to consult a Chartered Accountant (CA) or a tax consultant when you receive a Such notice, especially if the issues are complex, involve business income, or significant amounts. A professional can help you:
Understand the nuances of the notice.
Gather and organize the necessary documents.
Draft a legally sound and comprehensive response.
Represent you before the tax authorities (if required)
Refer: https://pkcindia.com/blogs/respond-to-income-tax-scrutiny-notice/
&/or https://tax2win.in/guide/income-tax-notice-us-143-2
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30 June 2025
this is just the first notice. You can submit the computation of income at this stage along with basic documents like Form 16, Form 26AS etc. If there is any capital transaction, supporting for the same. A detailed questionnarie will come to you in the next notice.
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01 July 2025
What document is "Computation of income"? Do I have to manually create an Excel sheet?
I have never consult a CA before. Is it best to give a visit to a CA locally in my area? Or is there a website which can help me find a CA with good experience. I have heard bad reviews about cleartax.
I have never consult a CA before. Is it best to give a visit to a CA locally in my area? Or is there a website which can help me find a CA with good experience. I have heard bad reviews about cleartax.
01 July 2025
If I am not mistaken, you have F&O transactions etc that you have reported in previous years. So prepare the working for how the income for the same has been offered to tax etc. A simple excel sheet should do it at this stage.
Once you receive a detailed questionnaire, you can arrange for responses for the question therein.
you can engage any CA from any location these days as the assessment is done online only. Make sure the CA has experience of handling assessment.
Once you receive a detailed questionnaire, you can arrange for responses for the question therein.
you can engage any CA from any location these days as the assessment is done online only. Make sure the CA has experience of handling assessment.
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