Intimation under section 143(1) of income tax

Not necessary, since the demand in the final coloumn is 0.

I am surprised as to why was an 143 (1) sent, if there is no demand or refund, is it because of Rs 4 discrepancy which has happened due to decimal error.

regards

Shree

As per section 288B of Income Tax Act, 1961 tax is rounded off.

 

If it is 5 or more than 5 it is rounded off upward and if it less than 5 it is rounded off downward.

 

For example, if you have to pay tax of Rs,54, it is rounded off to Rs.50.

 

This is the same case as yours.

 

Rish*t Shah

TallySchool

Generally intimation u/s 143(1) is deemed as demand order....so no seperate demand order is reqd....

also since the tax is less than 5 or rounding it....you get demand of zero....

why u got intimation...? intimation is generally send in only 3 situation-refundable,payable,change in loss amt....

since your case is of payable....you got intimation....

Originally posted by : Shreeprakash
	I have received an intimation under section 143(1) from Income tax. I am not sure if there is any demand that i have to pay. I am a salaried and have filled up ITR 1 for tax pament. Sl No 46 - TOTAL INCOME TAX REFUND is 0. SL No 47 - NET AMOUNT PAYABLE is 4. SL No 49 NET AMOUNT REFUNDABLE is 0 Sl No 50 NET AMOUNT PAYABLE is 0. There is no demand idenetification no. What should i do in this case ? Is there any further communication expected from my side. Should i pay Rs 4 to close the it. Shree

 

No need to pay any tax.

Not required to pay the tax,just a rounding off .....

It is just the confirmation or verification of income tax department of you return files. If there is any apparent mistake kike mismatch if tax paid credit, form 26 AS tds mismatch, etc. Then income tax department just intimate you regarding the same. It you do not satisfy with the same then u have an option to rectify the return or you may call helpline or go to respective or ur jurisdictional officers

It is intimation. Calculation as per income tax department is matched with the details provided by u.. It is sent assesse to notify that ITR is processed..

Thanks everybody for your clarification.

BTW Praik, whats the helpline number for the Income Tax.

regards

Shree 

Originally posted by : PRATIK V. SHAH
	It is just the confirmation or verification of income tax department of you return files. If there is any apparent mistake kike mismatch if tax paid credit, form 26 AS tds mismatch, etc. Then income tax department just intimate you regarding the same. It you do not satisfy with the same then u have an option to rectify the return or you may call helpline or go to respective or ur jurisdictional officers