HELLO FRIENDS, MY CLIENT HAS FILED INCOME TAX RETURN OF AY 2009-10 (NIL RETURN) AND HE HAS RECEIVED INTIMATION U/S 143(1) WHICH SHOWS THE DETAILS OF HIS INCOME AND NO TAX IS PAYABLE AND REFUND IS DUE TO HIM. THEN WHAT IS THE REASON OF ISSUING INTIMATION U/S 143(1).
PLS. HELP ME.
intimation u/s 143(1) refers to summery assesement, meant for correctness of income/loss furnished in the return and tax liability , it is done now under centralised processing system.
CAN I SIMPLY IGNORE THIS BECAUSE THERE IS NO TAX PAYABLE.
Yes u can igonre it. It is simply stating that your return as filed has been accepted.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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