Section 143(1)

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11 October 2011 What is this section 143 of IT Act?

CA SUMiT PATWARi

CA SUMiT PATWARi (Expert)
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11 October 2011 It is an intimation sent to the assessee specifying the sum payable by the assessee by a due date. This is a deemed notice of demand issued u/s 156 of the income tax act.
Also an acknowledgment of the return shall be deemed to be intimation u/s 143(1) where either no sum is payable by the assessee or no refund is due to him.

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Querist : Anonymous

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03 November 2011 Much Thanks.