ONE OF MY FRIEND RECEIVED DEMAND NOTICE FROM IT DEPARTMENT FOR PAYMENT
OF RS.1560/- TOWARDS INTEREST ETC., UNDER Sec 143(1) FOR THE
ASSESSMENT YEARS 2004-05 AND 2005-06 WHICH HE FILED IN THE RESPECTIVE
YEARS BEFORE DUE DATE.
IS IT CORRECT TO ASSESS AFTER 4 YEARS. IS IT REQUIRED TO PAY NOW.
PLS SUGGEST
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It notice u/s143(1) after 4 years
Replies (3)
No intimation u/s 143(1) can be issued after end of the financial year in which the return has been filed. So for AY 2004-05 and 2005-06, 143(1) intimation can be issued till 31st March 2006 and 31st March 2007 respectivelly.
For more information, please email me on camanish.agr @ gmail.com.
This intimation is invaild as it is issued after the expiry of time period i.e one financial year from the end of year in which the return is filed.
Are you sure it is notice u/s143(1) or its is an Notice for Demand of Arrears??
As the Notice for Demand of Arrears is valid.
Notice u/s 143(1) is not
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