Query on income tax notice 142(1)

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Madhvi (Querist)
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10 July 2014 Hi Sir,

A notice under section 142(1) in connection with the assessment for the A.Y. year 2010-11 served on 12.6.2014.

There is para what does that mean can you please help us to understand what documents i need to carry to income tax office in this regard.

(a) Prepare a true and correct return of your income/the firm's income/family's income /the local authority's income/the company's income/income of the A.O.P/income of the body of individuals/income of the respect of which you are assessable under the income tax act 1961 during the previous tear relevant to the assessment

year mentioned above.

Return was filed previously.

Rgds

CA Mohit Bansal

CA Mohit Bansal (Expert)
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10 July 2014 Hi Madhvi,

This notice is usually served to call upon documents and details from the tax payers, and this is basically done to take a particular case under assessment. By serving a notice u/s 142 (1) the assessing officer, in appropriate circumstances, may call upon the assessee.
To furnish a return of his income or the income of any other person in respect of which he is assessable, where he has not filed his return of income within the normal time allowed or before the end of the relevant assessment year.
To produce or cause to be produced accounts or documents which the AO may require for the purpose of making an assessment under the Act.
To furnish in writing any information on any point of matter including statement of the assessee
Compliance with this notice u/s 142(1) is mandatory even if the tax payer is of the opinion that the accounts/documents requested are irrelevant.

Madhvi

Madhvi (Querist)
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10 July 2014 Sir,

What do you mean by income of any other person "To furnish a return of his income or the income of any other person in respect of which he is assessable"

So only the documents showing the return filed for the assessment year in question need to be produced?

CA Mohit Bansal

CA Mohit Bansal (Expert)
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10 July 2014 In clubbing provisions, the income of other person is taxable in assesse return, for those cases I have mentioned the above statement.
Yes! Documents pertaining to the AY mentioned in the notice needs to be produced for first hearing

Madhvi

Madhvi (Querist)
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