Income tax notice under section 143(2) limited scrutiny

Tax queries 11379 views 19 replies

HI Team,

               I got a income tax notice on 4th August 2016 Notice under section 143(2) Limited Scrutiny of the Income Tax Act, 1961.  The notice i got via email stating that.

Sir/ Madam/ M/s,
This is for your kind information that the return of income for Assessment Year 2015-16 filed vide
ack. no. xxxxxxxxxxxxx on 24/07/2015 has been selected for Scrutiny. Following issues have
been identified for examination:
i. Derivative (futures) transaction
2. In view of the above, we would like to give you an opportunity to produce, or cause to be
produced, any evidence which you feel is necessary in support of the said return of income on
07/09/2016 at 05:10 PM in the office of the undersigned.
 

I am bit confuess.

1:- Is this notice is valid or not? How we can confirm that notice came from IT department?

2:- As I read couple of article about the time limit for receiving the notice for 143(2) which says If 6 months have elapsed since the end of the financial year in which the return was filed, then a notice for scrutiny cannot be served upon the assessee. Does this notice which got is valid or not?

3:- If it valid what kind of dcouments I have provide to AO?

Thanks in advance.

SKT

 

 

Replies (19)

Please check the email id that it has come from, you can also call the ASK and they will confirm the notice.

1 Yes, Notice is seems to be Original. You can cofirm it by visiting the officer, details of which is mention in notice (As I also got this kind of notice for my client)

2. Notice is valid . As 6 months from the end of FY in which return filed is not elapsed. As you have mentioned return filed on 24/07/15. So 6 months time will end on 30/09/2016 (i.e. 6 months from end of FY 2015-16)

3.For further requirements of docs, kindly visit the officer.

May visit at it department for confirmation of its genuineness

It is a valid notice. You must comply and attend  

The notice has been served within time limit. The notice for scrutiny assessment can be served up to 6 months from the end of relevant A.Y. in which return is filed. Relevant A.Y. here is 15-16, so notice can be served up to 30.09.2016. So notice is valid for no doubt.
Under scrutiny assessment you have to prove before A.O. that the details furnished by you in return is true and correct. It does not starts with the presumption that you have offered wrong particulars of income or evaded tax so no need to worry if you furnished accurate particulars of income.
It is adviced that you should visit a practicing CA who deals in income tax matters, appointing him as your representative in your case and he will do the rest.

Yes notice seems true.In the case of scruitny you have to show the evidence on which base you will furnished your return( means Income & expenses). I will suggest hired a professional which will guide you better.

this is a valid notice. no panic, nothing to worry. go and meet the AO and ask him whatever questions you have

By the way, you will get a hard copy mailed to your address

 

Even by looking at dashboard of efiling website u will come to know whethere your ITR processed or refund paid or selected for scrutiny. Please correct me if i am wrong

Thanks all of you for your response. I have visitied one of CA firm and they advice nothing to worry I can respond back to respective AO with supportive doucuments via email to calrify their concern. For My case derivative securnity as I was in loss so I replied back to AO with my P&L report for 2014-15 finicial year.

 

you don't have to visit AO? you can just send email?

 

Did you get any reply to your mail?

Well,

        I got the same notification via speed post as well. I got the response for email as well stating that

Mr / Ms / Messrs XXXXX YYYYY ZZZZ,
                       
Please find attached, the order relating to Rectification under Section 154 of Income Tax Act, 1961, for PAN XXXXXXXXXxx with respect to the Income Tax Return filed for Assessment Year 2015-16. 

Subject: Status of your ITR filed with CPC for PAN XXXXXXXXX, Assessment Year 2015-16

Ref: - E-Filing Acknowledgement Number xxxxxxxxxxx Dated 24-07-2015
Your return for the above mentioned assessment year will henceforth be rectified by your Assessing Officer KAR/W/xxx/x . You are requested to contact your Jurisdictional assessing officer for any rectification related issues.

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I checked and verifed in incometax efilling websiste there are no notifcation and pedning item for me. I beleive there is nothing pending from my end.

Now I can say this is great advantage of Digitial India, Where you have clear vision, no fear when you didn't made any mistake. Else getting notification from Income Tax every one scarry :) .. Thanks again all of you guys who help me to make it smooth way !!

Thanks & Regards

 

 

 

 

that is not a response to the email. that is a normal notice that everyone who gets scrutiny notice receives. it just means that the return has been transferred from the CPC to the AO, and if you need to make any recitification to the return, it has to be done with AO now, rather than CPC.


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