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Intimation u/s.143(1) of the itact, 1961

Sowmya S (CAO) (214 Points)

04 January 2013

Dear All,

I have received an Intimation U/s.143(1) of the IT Act, 1961 this morning. When i gone through the said document, i have not found any difference b/w my computaion of IT & computation under 143(1). Both are same only, but still i recd., the intimation.

Now, my querry is, what is the purpose of that 143(1) intimation & do I have to undertake any steps in this regard.

Thanks & Regards

Sowmya.S

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5 Replies

Ravi Dasija (C.A. ) (273 Points)
Replied 04 January 2013

Dear Sowmya

Its not necessary that we receive an intimation only if there is any difference in the income declared and filed by us and as per section 143 (1).

143 (1) is a summary assessment and majority of the returns are first assessed under that, the intimation you have received is just for your reference and records.

Hope this solves your query.

Warm regards

Ravi Dasija

1 Like

CA Sneha Jalan (CA FINAL) (73 Points)
Replied 04 January 2013

Dear friend.... intimation u/s 143(1) is only issued in three cases as per theory nd d cases are if u have any tax refund, if u have any tax payable nd dere is any reduction in itr losses...bt practically it is issued in every cases even if u dnt have any sch sitution so u need not to do any thng....its just for giving u infrmtion dat the return filled by u is accepted by the IT department..................

Dear Ravi...i m not agree with u....as per my knwledge...143(1) is not any assessment....its just a intimation letter...n all d filled return is processed under dis section....whereas only 2 to 3% filled return is only processed under scrutiny assessment...............

THANKS & REGARDS..

Sneha Jalan

2 Like

CA DIGANT CHADHA (Academician & Consultant) (195 Points)
Replied 04 January 2013

ACTUALLY THE CENTRAL PROCESSING CELL (CPC) HAS BEEN FORMED RECENTLY THEREFORE THEY ARE SENDING THIS INTIMATION TO EVERY ASSESSE WHO FILES E-RETURN. SO THERE IS NO PROBLEM ABOUT THAT. BUT, IN FUTURE THIS INTIMATION WILL BE SENT TO ONLY THOSE WHOSE DEMANDS ARE PENDING. THANKS

1 Like

Ravi Dasija (C.A. ) (273 Points)
Replied 04 January 2013

Dear Sneha

I don't deny the fact that only 2% to 3% cases are selected for scrutiny assessment and I even agree that 143 (1) is not an assessment, what i meant is for most of the cases rather for all CPC is now issuing the intimation u/s 143 (1) and we all know that it is called as summary assessment thats why I had used these words before.

Hope I have made myself clear.

Regards

Ravi Dasija

CA Sneha Jalan (CA FINAL) (73 Points)
Replied 05 January 2013

Dear Ravi,

Yes I totally agree with u bt its nt right to named the intimation u/s 143(1) as a summary assessment..Bcz it vll create a confusion between 143(1) & the real summary assessment u/s 143(3).

Thanks & Regards,

Sneha Jalan